FORM 10-KSB--ANNUAL OR TRANSITIONAL REPORT UNDER
                               SECTION 13 OR 15(d)

                                   Form 10-KSB

[X] ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
    1934 [No Fee Required]

                    For the fiscal year ended December 31, 2001

[ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT
    OF 1934  [No Fee Required]
                  For the transition period _________to _________

                         Commission file number 0-10304

                                 ANGELES PARTNERS X
                   (Name of small business issuer in its charter)

         California                                          95-3557899
(State or other jurisdiction of                           (I.R.S. Employer
 incorporation or organization)                          Identification No.)

                          55 Beattie Place, PO Box 1089
                        Greenville, South Carolina 29602
                      (Address of principal executive offices)

                            Issuer's telephone number
                                 (864) 239-1000

           Securities registered under Section 12(b) of the Exchange Act:

                                      None

           Securities registered under Section 12(g) of the Exchange Act:

                            Limited Partnership Units
                                (Title of class)

Check  whether the issuer (1) filed all reports  required to be filed by Section
13 or 15(d) of the  Exchange  Act during the past 12 months (or for such shorter
period that the registrant was required to file such reports),  and (2) has been
subject to such filing requirements for the past 90 days. Yes X No__

Check if there is no disclosure of delinquent  filers in response to Item 405 of
Regulation S-B contained in this form, and no disclosure  will be contained,  to
the best of the  registrant's  knowledge  in  definitive  proxy  or  information
statements  incorporated  by  reference  in Part III of this Form  10-KSB or any
amendment to this Form 10-KSB. [X]

State issuer's revenues for its most recent fiscal year.  $2,508,000

State the aggregate  market value of the voting  partnership  interests  held by
non-affiliates  computed  by  reference  to the price at which  the  partnership
interests  were sold,  or the average bid and asked  prices of such  partnership
interests as of December 31, 2001. No market exists for the limited  partnership
interests of the Registrant,  and,  therefore,  no aggregate market value can be
determined.

                       DOCUMENTS INCORPORATED BY REFERENCE
                                      None

<PAGE>


                                     PART I

Item 1.  Description of Business

Angeles  Partners  X (the  "Registrant"  or  "Partnership")  is a  publicly-held
limited  partnership  organized under the California Uniform Limited Partnership
Act  pursuant to a  Certificate  and Amended  Agreement  of Limited  Partnership
(hereinafter  referred to as the  "Agreement")  dated June 24, 1980. The general
partner  responsible  for  management of the  Partnership's  business is Angeles
Realty Corporation ("ARC"), a California corporation (hereinafter referred to as
the "General  Partner").  Effective December 1992, 100% of the General Partner's
outstanding  stock was  purchased by MAE GP  Corporation  ("MAE GP").  Effective
February 25, 1998, MAE GP merged into Insignia  Properties Trust ("IPT"),  which
was merged into Apartment  Investment and Management Company ("AIMCO") effective
February 26, 1999. Thus the General Partner is now a wholly-owned  subsidiary of
AIMCO. The Elliott Family Partnership,  Ltd., a California limited  partnership,
was  the  Non-Managing  General  Partner.  On  June  30,  2000,  Elliott  Family
Partnership sold its remaining interest to AIMCO Properties,  LP, a wholly-owned
subsidiary of AIMCO.  The General Partner and the  Non-Managing  General Partner
are herein collectively  referred to as the "General Partners".  The Partnership
Agreement  provides that the  Partnership  is to terminate on December 31, 2035,
unless terminated prior to such date.

The  Registrant  is engaged in the business of operating and holding real estate
properties for investment.  In 1981 and 1982, during its acquisition  phase, the
Registrant acquired eight investment properties. Prior to the calendar year 2000
six  investment  properties  were either sold or foreclosed  on. The  Registrant
continues to own and operate two of these properties (See "Item 2 Description of
Properties").

Commencing  May 12, 1981,  the  Registrant  offered  pursuant to a  Registration
Statement  filed with the Securities and Exchange  Commission up to 25,000 Units
of Limited Partnership  Interest (the "Units") at a purchase price of $1,000 per
Unit  with a minimum  purchase  of 5 Units  ($5,000).  Upon  termination  of the
offering,  the  Registrant  had accepted  subscriptions  for 18,714 Units for an
aggregate  of  $18,714,000,  including  100 Units  which were  purchased  by the
General Partner for $100,000. Since its initial offering, the Registrant has not
received,  nor  are  limited  partners  required  to  make,  additional  capital
contributions.

The Registrant  has no employees.  Management  and  administrative  services are
performed by the General Partner and by agents retained by the General  Partner.
Property management services are provided at the Partnership's  properties by an
affiliate of the General Partner.

Both  the  income  and  expenses  of  operating  the  properties  owned  by  the
Partnership are subject to factors outside of the Partnership's control, such as
changes in the supply and demand for similar  properties  resulting from various
market  conditions,  increases/decreases  in unemployment or population  shifts,
changes in availability of permanent mortgage financing, changes in zoning laws,
or changes in patterns or needs of users. In addition,  there are risks inherent
in owning and  operating  residential  properties  because such  properties  are
susceptible  to the  impact of  economic  and other  conditions  outside  of the
control of the Partnership.

There have been, and it is possible there may be other, Federal, state and local
legislation  and  regulations   enacted   relating  to  the  protection  of  the
environment.  The Partnership is unable to predict the extent,  if any, to which
such new  legislation  or  regulations  might occur and the degree to which such
existing or new legislation or regulations might adversely affect the properties
owned by the Partnership.

The Partnership  monitors its properties for evidence of pollutants,  toxins and
other dangerous substances, including the presence of asbestos. In certain cases
environmental testing has been performed,  which resulted in no material adverse
conditions or liabilities.  In no case has the Partnership  received notice that
it is a potentially  responsible party with respect to an environmental clean up
site.

The  real  estate  business  in which  the  Partnership  is  engaged  is  highly
competitive.  There are other  residential  properties within the market area of
the Registrant's  properties.  The number and quality of competitive properties,
including those which may be managed by an affiliate of the General Partner,  in
such  market  area  could have a  material  effect on the rental  market for the
apartments at the Registrant's  properties and the rents that may be charged for
such apartments. While the General Partner and its affiliates own and/or control
a  significant  number of  apartment  units in the  United  States,  such  units
represent an  insignificant  percentage of total  apartment  units in the United
States, and competition for apartments is local.

A further description of the Partnership's business is included in "Management's
Discussion and Analysis or Plan of Operation"  included in "Item 6" of this Form
10-KSB.

Item 2.  Description of Properties:

The following table sets forth the Registrant's investment in properties:

<TABLE>
<CAPTION>

                              Date of
Property                      Purchase         Type of Ownership             Use

<S>                           <C>        <C>                            <C>
Greentree Apartments          12/31/81   Fee ownership subject to       Apartment -
  Mobile, Alabama                        first and second mortgages(1)  178 units

Carriage Hills Apartments     07/30/82   Fee ownership subject to a     Apartment -
  East Lansing, Michigan                 first mortgage (1)             143 units

(1)   Property is held by a Limited Partnership which the Registrant owns a 99.00%
      interest in.
</TABLE>

Schedule of Properties:

Set forth below for each of the  Registrant's  properties is the gross  carrying
value,  accumulated  depreciation,  depreciable life, method of depreciation and
Federal tax basis.

<TABLE>
<CAPTION>

                        Gross
                       Carrying   Accumulated    Useful                  Federal
Property                Value    Depreciation     Life      Method      Tax Basis
                           (in thousands)                            (in thousands)

Greentree
<S>                   <C>          <C>          <C>                     <C>
 Apartments           $ 5,009      $ 3,930      5-25 yrs     S/L        $ 1,058

Carriage Hills
 Apartments             5,607        3,654      5-25 yrs     S/L          1,674
                      $10,616      $ 7,584                              $ 2,732
</TABLE>

See "Note A" to the  consolidated  financial  statements  included  in "Item 7 -
Financial  Statements"  for a  description  of  the  Partnership's  depreciation
policy.


<PAGE>





Schedule of Property Indebtedness

The  following  table  sets  forth  certain  information  relating  to the loans
encumbering the Partnership's properties:

<TABLE>
<CAPTION>

                          Principal                                      Principal
                          Balance At                                      Balance
                         December 31,   Interest    Period   Maturity      Due At
       Property              2001         Rate    Amortized    Date     Maturity (2)
                        (in thousands)                                 (in thousands)

Greentree Apartments
<S>                        <C>           <C>      <C>          <C>       <C>
  1st mortgage             $ 3,255       7.83%    28.67 yrs    10/03     $ 3,135
  2nd mortgage                 113       7.83%       (1)       10/03         113

Carriage Hills
  Apartments
  1st mortgage               5,172       7.39%      30 yrs     12/04       4,958
                            8,540
Less unamortized
   discounts                   (14)

  Total                    $ 8,526                                       $ 8,206
</TABLE>

(1)   Interest only payments with a balloon payment at maturity.

(2)   See "Item 7. Financial  Statements - Note B" for information  with respect
      to the  Registrant's  ability  to prepay  these  loans and other  specific
      details about the loans.

Rental Rates and Occupancy:

Average  annual  rental rates and  occupancy for 2001 and 2000 for each property
were as follows:

                                    Average Annual              Average Annual
                                     Rental Rates                 Occupancy
                                      (per unit)
 Property                        2001           2000          2001         2000
 Greentree Apartments           $ 5,655       $ 5,655         95%           98%
 Carriage Hills Apartments       10,534        10,136         95%           94%

The General Partner attributes the decrease in occupancy at Greentree Apartments
to increased competition in the Mobile area.

As noted under "Item 1.  Description of Business",  the real estate  industry is
highly  competitive.  All of the  properties of the  Partnership  are subject to
competition from other residential  apartment complexes in the area. The General
Partner  believes  that  all of the  properties  are  adequately  insured.  Each
property is an  apartment  complex  which  leases units for terms of one year or
less. As of December 31, 2001, no  residential  tenant leases 10% or more of the
available rental space. All of the properties are in good condition,  subject to
normal  depreciation and deterioration as is typical for assets of this type and
age.


<PAGE>



Schedule of Real Estate Taxes and Rates:

Real estate taxes and rates in 2001 for each property were as follows:

                                    2001             2001
                                  Billing            Rate
                               (in thousands)

Greentree Apartments              $ 49               1.27%
Carriage Hills Apartments          153               3.17%

Capital Improvements:

Greentree  Apartments:  The  Partnership  completed  approximately  $287,000  in
capital expenditures at Greentree Apartments as of December 31, 2001, consisting
primarily of appliances, interior building improvements,  exterior painting, and
floor covering  replacement.  These improvements were funded from operations and
replacement  reserves.  The  Partnership  is  currently  evaluating  the capital
improvement  needs of the property for the upcoming  year. The minimum amount to
be budgeted is expected to be $300 per unit or $53,400.  Additional improvements
may be considered  and will depend on the physical  condition of the property as
well  as  replacement  reserves  and  anticipated  cash  flow  generated  by the
property.

Carriage Hills Apartments:  The Partnership completed  approximately $134,000 in
capital  expenditures  at Carriage  Hills  Apartments  as of December  31, 2001,
consisting  primarily  of  structural  improvements  and floor  covering and air
conditioning unit replacements.  These improvements were funded from replacement
reserves and  operations.  The  Partnership is currently  evaluating the capital
improvement  needs of the property for the upcoming  year. The minimum amount to
be budgeted is expected to be $300 per unit or $42,900.  Additional improvements
may be considered  and will depend on the physical  condition of the property as
well  as  replacement  reserves  and  anticipated  cash  flow  generated  by the
property.

Item 3.  Legal Proceedings

In March 1998, several putative unit holders of limited partnership units of the
Partnership  commenced an action  entitled  Rosalie  Nuanes,  et al. v. Insignia
Financial Group, Inc., et al. (the "Nuanes action") in the Superior Court of the
State of  California  for the  County  of San  Mateo.  The  plaintiffs  named as
defendants,  among others,  the Partnership,  its General Partner and several of
their  affiliated  partnerships and corporate  entities.  The action purports to
assert  claims on behalf of a class of  limited  partners  and  derivatively  on
behalf of a number of limited partnerships (including the Partnership) which are
named as nominal defendants, challenging, among other things, the acquisition of
interests in certain general partner entities by Insignia  Financial Group, Inc.
("Insignia") and entities which were, at one time, affiliates of Insignia;  past
tender offers by the Insignia  affiliates to acquire limited  partnership units;
management of the  partnerships  by the Insignia  affiliates;  and the series of
transactions  which  closed on October 1, 1998 and  February  26,  1999  whereby
Insignia and Insignia  Properties Trust,  respectively,  were merged into AIMCO.
The plaintiffs seek monetary damages and equitable  relief,  including  judicial
dissolution of the  Partnership.  On June 25, 1998, the General  Partner filed a
motion seeking dismissal of the action. In lieu of responding to the motion, the
plaintiffs  filed an amended  complaint.  The General Partner filed demurrers to
the amended complaint which were heard February 1999.

Pending the ruling on such  demurrers,  settlement  negotiations  commenced.  On
November 2, 1999,  the parties  executed and filed a Stipulation  of Settlement,
settling claims, subject to court approval, on behalf of the Partnership and all
limited partners who owned units as of November 3, 1999. Preliminary approval of
the  settlement  was obtained on November 3, 1999 from the Court,  at which time
the Court set a final  approval  hearing for  December  10,  1999.  Prior to the
December  10,  1999  hearing,  the  Court  received  various  objections  to the
settlement, including a challenge to the Court's preliminary approval based upon
the alleged lack of authority of prior lead counsel to enter the settlement.  On
December  14,  1999,  the General  Partner  and its  affiliates  terminated  the
proposed settlement.  In February 2000, counsel for some of the named plaintiffs
filed a motion to disqualify plaintiff's lead and liaison counsel who negotiated
the settlement.  On June 27, 2000, the Court entered an order disqualifying them
from the case and an appeal was taken  from the order on  October  5,  2000.  On
December 4, 2000, the Court  appointed the law firm of Lieff Cabraser  Heimann &
Bernstein  LLP as new  lead  counsel  for  plaintiffs  and the  putative  class.
Plaintiffs  filed a third  amended  complaint on January 19,  2001.  On March 2,
2001,  the  General  Partner  and its  affiliates  filed a demurrer to the third
amended  complaint.  On May 14, 2001,  the Court heard the demurrer to the third
amended  complaint.  On July 10,  2001,  the Court  issued  an order  sustaining
defendants'  demurrer on certain grounds.  On July 20, 2001,  Plaintiffs filed a
motion for  reconsideration  of the Court's July 10, 2001 order granting in part
and denying in part defendants' demurrer. On September 7, 2001, Plaintiffs filed
a fourth amended class and derivative action  complaint.  On September 12, 2001,
the Court denied Plaintiffs' motion for reconsideration. On October 5, 2001, the
General Partner and affiliated defendants filed a demurrer to the fourth amended
complaint,  which was heard on December 11, 2001. On February 2, 2002, the Court
served its order granting in part the demurrer.  The Court has dismissed without
leave  to amend  certain  of the  plaintiffs'  claims.  On  February  11,  2002,
plaintiffs  filed a motion seeking to certify a putative class  comprised of all
non-affiliated  persons  who own or have owned  units in the  partnerships.  The
General  Partner and affiliated  defendants  intend to oppose the motion and are
scheduled  to file their  opposition  brief on March 26,  2002. A hearing on the
motion has been  scheduled for April 29, 2002.  The Court has set the matter for
trial in January 2003.

During the third  quarter of 2001, a complaint  (the "Heller  action") was filed
against  the same  defendants  that are named in the  Nuanes  action,  captioned
Heller v. Insignia Financial Group. On or about August 6, 2001, plaintiffs filed
a first amended  complaint.  The first amended complaint in the Heller action is
brought as a purported  derivative  action,  and asserts  claims for among other
things  breach  of  fiduciary  duty;  unfair  competition;   conversion,  unjust
enrichment;  and judicial  dissolution.  Plaintiffs in the Nuanes action filed a
motion to  consolidate  the Heller action with the Nuanes action and stated that
the Heller action was filed in order to preserve the derivative claims that were
dismissed  without  leave to amend in the Nuanes action by the Court order dated
July 10, 2001. On October 5, 2001, the General Partner and affiliated defendants
moved to strike the first  amended  complaint in its entirety for  violating the
Court's  July 10, 2001 order  granting  in part and denying in part  defendants'
demurrer in the Nuanes action, or  alternatively,  to strike certain portions of
the  complaint  based on the statute of  limitations.  Other  defendants  in the
action demurred to the fourth amended complaint,  and,  alternatively,  moved to
strike the  complaint.  On December  11, 2001,  the court heard  argument on the
motions and took the matters under  submission.  On February 4, 2002,  the Court
served  notice of its order  granting  defendants'  motion to strike  the Heller
complaint as a violation of its July 10, 2001 order in the Nuanes action.

The  General  Partner  does not  anticipate  that any  costs,  whether  legal or
settlement  costs,   associated  with  these  cases  will  be  material  to  the
Partnership's overall operations.

The Partnership is unaware of any pending or outstanding  litigation that is not
of a routine nature arising in the ordinary course of business.

Item 4.  Submission of Matters to a Vote of Security Holders

During the quarter ended December 31, 2001, no matter was submitted to a vote of
unit holders through the solicitation of proxies or otherwise.


<PAGE>




                                     PART II

Item 5.  Market for the Partnership's Common Equity and Related Security Holder
         Matters

The  Partnership,  a  publicly-held  limited  partnership,  sold 18,714  limited
partnership units aggregating  $18,714,000  including 100 Units purchased by the
General  Partner for  $100,000.  The  Partnership  currently  has 987 holders of
record  owning an aggregate of 18,625 Units.  Affiliates of the General  Partner
owned  9,911  units or  approximately  53.21% at December  31,  2001.  No public
trading market has developed for the Units,  and it is not anticipated that such
a market will develop in the future.

The following table sets forth the distributions made by the Partnership for the
years ended December 31, 2001 and 2000.

                                                Distributions
                                                           Per Limited
                                        Aggregate        Partnership Unit
                                      (in thousands)
       01/01/00 - 12/31/00            $  650 (1)              $34.52
       01/01/01 - 12/31/01               156 (1)                8.27

(1)   Consists of cash from operations.

Future cash  distributions  will depend on the levels of net cash generated from
operations, the availability of cash reserves and the timing of debt maturities,
refinancings,  and/or  property  sales.  The  Partnership's  cash  available for
distribution is reviewed on a monthly basis. There can be no assurance, however,
that the  Partnership  will  generate  sufficient  funds from  operations  after
required  capital  expenditures  to permit any additional  distributions  to its
partners in 2002 or subsequent periods. See "Item 2. Description of Properties -
Capital  Improvements" for information  relating to capital  expenditures at the
properties.  Distributions  may be restricted by the requirements to deposit net
operating  income (as defined in the  mortgage  note) into the  Reserve  Account
until the  Reserve  Account  is  funded  in an amount  equal to $200 to $400 per
apartment unit for Greentree Apartments for a total of $35,600 to $71,200. As of
December 31, 2001, the Partnership has deposits of approximately  $65,000 in the
reserve account.

In addition to its  indirect  ownership of the general  partner  interest in the
Partnership,  AIMCO and its affiliates owned 9,911 limited  partnership units in
the Partnership  representing  approximately  53.21% of the outstanding units at
December  31,  2001.  A number of these units were  acquired  pursuant to tender
offers  made by  AIMCO  or its  affiliates.  It is  possible  that  AIMCO or its
affiliates will make one or more additional offers to acquire additional limited
partnership  interests in the  Partnership  for cash or in exchange for units in
the operating partnership of AIMCO. Under the Partnership Agreement, unitholders
holding a majority of the units are  entitled  to take action with  respect to a
variety of matters,  which would  include  voting on certain  amendments  to the
Partnership  Agreement and voting to remove the General Partner.  As a result of
its ownership of approximately  53.21% of the outstanding  units,  AIMCO is in a
position to control all such voting  decisions  with respect to the  Registrant.
When voting on matters, AIMCO would in all likelihood vote the units it acquired
in a manner  favorable  to the  interest of the General  Partner  because of its
affiliation with the General Partner.


<PAGE>



Item 6.  Management's Discussion and Analysis or Plan of Operation

The  matters  discussed  in this Form  10-KSB  contain  certain  forward-looking
statements  and  involve  risks and  uncertainties  (including  changing  market
conditions,   competitive  and  regulatory   matters,   etc.)  detailed  in  the
disclosures  contained  in this  Form  10-KSB  and the  other  filings  with the
Securities and Exchange Commission made by the Registrant from time to time. The
discussion of the  Registrant's  business and results of  operations,  including
forward-looking  statements  pertaining  to such  matters,  does not  take  into
account the effects of any changes to the  Registrant's  business and results of
operation.  Accordingly,  actual  results  could  differ  materially  from those
projected in the forward-looking  statements as a result of a number of factors,
including those identified herein.

This  item  should  be read  in  conjunction  with  the  consolidated  financial
statements and other items contained elsewhere in this report.

Results of Operations


The Partnership realized net income of approximately  $43,000 for the year ended
December 31, 2001, compared to net income of approximately  $29,000 for the year
ended  December  31,  2000.  The increase in net income is due to an increase in
total  revenues.  Total revenues  increased due to an increase in rental income,
which was partially  offset by a slight decrease in other income.  Rental income
increased primarily as a result of an increase in the average annual rental rate
at Carriage  Hills  Apartments  and a slight  increase in  occupancy at Carriage
Hills  Apartments,  which was  partially  offset by a decrease in  occupancy  at
Greentree  Apartments.  Other income  decreased  primarily  due to a decrease in
interest  income,  as a  result  of an  overall  decrease  in  partnership  cash
balances.  The  decrease in other  income was  partially  offset by increases in
laundry revenue and utility reimbursements.

Total  expenses  remained   relatively   constant  as  increases  in  operating,
depreciation, and property tax expenses were offset by a decrease in general and
administrative  expenses. The increase in operating expenses is primarily due to
an  increase  in  insurance  expense  as a result of an  increase  in the hazard
insurance premiums at both of the Partnership's investment properties,  and to a
lesser  extent,  an  increase in utility  expenses.  The  increase in  operating
expenses was partially  offset by a decrease in advertising  expense at Carriage
Hills  Apartments.   Depreciation  expense  increased  due  to  an  increase  in
depreciable  assets  resulting  from  property   improvements  and  replacements
completed during the past twelve months. The increase in property tax expense is
primarily  due to an  increase  in the tax  rate  at  both of the  Partnership's
investment  properties  and an increase in the assessed  value at Carriage Hills
Apartments.  Interest  expense remained  relatively  constant for the comparable
periods.  General  and  administrative  expenses  decreased  primarily  due to a
decrease in the costs of services  included in the management  reimbursements to
the General Partner as allowed under the Partnership Agreement. Also included in
general and administrative expenses at both December 31, 2001 and 2000 are costs
associated  with the  quarterly  and annual  communications  with  investors and
regulatory agencies and the annual audit required by the Partnership Agreement.

As part of the ongoing  business plan of the  Partnership,  the General  Partner
monitors the rental market  environment of each of its investment  properties to
assess the feasibility of increasing rents,  maintaining or increasing occupancy
levels and protecting the Partnership from increases in expense. As part of this
plan, the General Partner attempts to protect the Partnership from the burden of
inflation-related  increases in expenses by increasing  rents and  maintaining a
high overall occupancy level. However, due to changing market conditions,  which
can  result in the use of rental  concessions  and rental  reductions  to offset
softening market conditions, there is no guarantee that the General Partner will
be able to sustain such a plan.

Liquidity and Capital Resources

At  December  31,  2001,  the  Partnership  had  cash and  cash  equivalents  of
approximately $84,000,  compared to approximately $158,000 at December 31, 2000.
The decrease in cash and cash  equivalents  of  approximately  $74,000 is due to
approximately  $519,000 of cash used in investing  activities and  approximately
$145,000 of cash used in financing  activities,  which was  partially  offset by
approximately  $590,000 of cash provided by operating activities.  Net cash used
in financing  activities  consisted of distributions to partners and payments of
principal  made  on  the  mortgages  encumbering  the  Registrant's  properties,
partially  offset  by  advances  from the  General  Partner.  Net  cash  used in
investing activities consisted of property improvements and replacements and, to
a lesser  extent,  net deposits to escrow  accounts  maintained  by the mortgage
lender. The Partnership invests its working capital reserves in interest bearing
accounts.

The sufficiency of existing  liquid assets to meet future  liquidity and capital
expenditure   requirements   is  directly   related  to  the  level  of  capital
expenditures  required at the investment  properties to adequately  maintain the
physical  assets and other  operating needs of the Registrant and to comply with
Federal, state and local legal and regulatory  requirements.  The Partnership is
currently  evaluating  the capital  improvement  needs of the properties for the
upcoming year. The minimum amount to be budgeted is expected to be $300 per unit
or $96,300.  Additional  improvements  may be considered  and will depend on the
physical  condition  of the  properties  as well  as  replacement  reserves  and
anticipated cash flow generated by the properties.

The additional  capital  expenditures will be incurred only if cash is available
from  operations  and  Partnership  reserves.  To the extent that such  budgeted
capital improvements are completed, the Registrant's distributable cash flow, if
any, may be adversely affected at least in the short term.

The  Registrant's  current assets are thought to be sufficient for any near-term
needs  (exclusive  of capital  improvements)  of the  Registrant.  The  mortgage
indebtedness of approximately $8,526,000,  net of discount, matures October 2003
and December  2004 with balloon  payments due at maturity.  The General  Partner
will attempt to refinance such indebtedness  and/or sell the properties prior to
such  maturity  dates.  If the  properties  cannot be  refinanced  or sold for a
sufficient  amount,  the  Registrant  will risk losing such  properties  through
foreclosure.

During the year ended December 31, 2001, the Partnership  paid a distribution of
approximately $156,000  (approximately $154,000 to the limited partners or $8.27
per  limited   partnership   unit)  from  operations.   Cash   distributions  of
approximately  $780,000 were paid to the partners during the year ended December
31, 2000,  $130,000 of which was related to a payable at December 31, 1999.  The
remaining  $650,000  (approximately  $643,000  of which was paid to the  limited
partners  or $34.52  per  limited  partnership  unit) was paid from  operations.
Future cash  distributions  will depend on the levels of net cash generated from
operations, the availability of cash reserves and the timing of debt maturities,
refinancings,  and/or  property  sales.  The  Registrant's  cash  available  for
distribution is reviewed on a monthly basis. There can be no assurance, however,
that the  Partnership  will generate  sufficient  funds from  operations,  after
required  capital  expenditures,  to permit any additional  distributions to its
partners in 2002 or subsequent  periods.  Distributions may be restricted by the
requirements  to deposit net operating  income (as defined in the mortgage note)
into the Reserve  Account until the Reserve Account is funded in an amount equal
to $200 to $400 per  apartment  unit  for  Greentree  Apartments  for a total of
$35,600 to $71,200.  As of December 31, 2001,  the  Partnership  has deposits of
approximately $65,000 in the reserve account.

In addition to its  indirect  ownership of the general  partner  interest in the
Partnership,  AIMCO and its affiliates owned 9,911 limited  partnership units in
the Partnership  representing  approximately  53.21% of the outstanding units at
December  31,  2001.  A number of these units were  acquired  pursuant to tender
offers  made by  AIMCO  or its  affiliates.  It is  possible  that  AIMCO or its
affiliates will make one or more additional offers to acquire additional limited
partnership  interests in the  Partnership  for cash or in exchange for units in
the operating partnership of AIMCO. Under the Partnership Agreement, unitholders
holding a majority of the units are  entitled  to take action with  respect to a
variety of matters,  which would  include  voting on certain  amendments  to the
Partnership  Agreement and voting to remove the General Partner.  As a result of
its ownership of approximately  53.21% of the outstanding  units,  AIMCO is in a
position to control all such voting  decisions  with respect to the  Registrant.
When voting on matters, AIMCO would in all likelihood vote the units it acquired
in a manner  favorable  to the  interest of the General  Partner  because of its
affiliation with the General Partner.

Recent Accounting Pronouncements

In August 2001, the Financial  Accounting  Standards  Board issued SFAS No. 144,
"Accounting for the Impairment or Disposal of Long-Lived  Assets".  SFAS No. 144
provides  accounting  guidance for  financial  accounting  and reporting for the
impairment or disposal of long-lived  assets.  SFAS No. 144 supersedes  SFAS No.
121,  "Accounting  for the  Impairment of Long-Lived  Assets and for  Long-Lived
Assets to be Disposed Of". SFAS No. 144 is effective for fiscal years  beginning
after  December  15, 2001.  The General  Partner  does not  anticipate  that its
adoption  will have a material  effect on the  financial  position or results of
operations of the Partnership.


<PAGE>


Item 7.  Financial Statements


ANGELES PARTNERS X

LIST OF FINANCIAL STATEMENTS

      Report of Ernst & Young LLP, Independent Auditors

      Consolidated Balance Sheet - December 31, 2001

      Consolidated Statements of Operations - Years ended December 31, 2001 and
      2000

      Consolidated  Statements  of Changes in  Partners'  Deficit - Years  ended
      December 31, 2001 and 2000

      Consolidated Statements of Cash Flows - Years ended December 31, 2001 and
      2000

      Notes to Consolidated Financial Statements


<PAGE>


                 Report of Ernst & Young LLP, Independent Auditors









The Partners
Angeles Partners X


We have audited the accompanying  consolidated balance sheet of Angeles Partners
X  as  of  December  31,  2001,  and  the  related  consolidated  statements  of
operations,  changes in  partners'  deficit,  and cash flows for each of the two
years in the period ended December 31, 2001. These financial  statements are the
responsibility of the Partnership's management. Our responsibility is to express
an opinion on these financial statements based on our audits.

We conducted our audits in accordance with auditing standards generally accepted
in the United States. Those standards require that we plan and perform the audit
to obtain reasonable  assurance about whether the financial  statements are free
of material misstatement. An audit includes examining, on a test basis, evidence
supporting  the amounts and  disclosures in the financial  statements.  An audit
also includes assessing the accounting principles used and significant estimates
made  by the  Partnership's  management,  as  well  as  evaluating  the  overall
financial  statement  presentation.   We  believe  that  our  audits  provide  a
reasonable basis for our opinion.

In our opinion,  the financial  statements  referred to above present fairly, in
all material respects, the consolidated financial position of Angeles Partners X
at December 31, 2001,  and the  consolidated  results of its  operations and its
cash flows for each of the two years in the period ended  December 31, 2001,  in
conformity with accounting principles generally accepted in the United States.





                                                          /s/ ERNST & YOUNG LLP


Greenville, South Carolina
February 15, 2002


<PAGE>




                               ANGELES PARTNERS X

                           CONSOLIDATED BALANCE SHEET
                          (in thousands, except unit data)

                                December 31, 2001

<TABLE>
<CAPTION>

Assets
<S>                                                             <c>           <C>
   Cash and cash equivalents                                                  $   84
   Receivables and deposits                                                       39
   Restricted escrows                                                            104
   Other assets                                                                  159
   Investment properties (Notes B and E):
      Land                                                     $   312
      Buildings and related personal property                   10,304
                                                                10,616
      Less accumulated depreciation                             (7,584)        3,032
                                                                             $ 3,418

Liabilities and Partners' Deficit
Liabilities
   Accounts payable                                                          $    83
   Tenant security deposit liabilities                                            21
   Due to General Partner (Note D)                                               139
   Other liabilities                                                              87
   Mortgage notes payable (Note B)                                             8,526

Partners' Deficit
   General partners                                           $   (247)
   Limited partners (18,625 units issued and
      outstanding)                                              (5,191)       (5,438)

                                                                             $ 3,418

            See Accompanying Notes to Consolidated Financial Statements
</TABLE>


<PAGE>



                               ANGELES PARTNERS X

                      CONSOLIDATED STATEMENTS OF OPERATIONS
                          (in thousands, except unit data)



                                                           Years Ended
                                                           December 31,
                                                         2001        2000
Revenues:
   Rental income                                        $ 2,338     $ 2,314
   Other income                                             170         178
      Total revenues                                      2,508       2,492

Expenses:
   Operating                                                922         902
   General and administrative                               164         241
   Depreciation                                             496         454
   Interest                                                 695         687
   Property taxes                                           188         179
      Total expenses                                      2,465       2,463

Net income                                              $    43     $    29

Net income allocated to general partners (1%)           $    --     $    --

Net income allocated to limited partners (99%)               43          29

                                                        $    43     $    29

Net income per limited partnership unit                 $  2.31     $  1.56

Distributions per limited partnership unit              $  8.27     $ 34.52

            See Accompanying Notes to Consolidated Financial Statements

<PAGE>


                               ANGELES PARTNERS X

              CONSOLIDATED STATEMENTS OF CHANGES IN PARTNERS' DEFICIT
                          (in thousands, except unit data)

<TABLE>
<CAPTION>


                                        Limited
                                       Partnership    General    Limited
                                          Units       Partners   Partners     Total

<S>                                        <C>          <C>       <C>       <C>
Original capital contributions             18,714       $ 1       $18,714   $ 18,715

Partners' deficit
   at December 31, 1999                    18,625     $ (238)     $(4,466)  $ (4,704)

Distributions to partners                      --          (7)       (643)      (650)

Net income for the year ended
   December 31, 2000                           --          --          29         29

Partners' deficit at
   December 31, 2000                       18,625        (245)     (5,080)    (5,325)

Distributions to partners                     --           (2)       (154)      (156)

Net income for the year
   ended December 31, 2001                    --           --          43          43

Partners' deficit
   at December 31, 2001                   18,625      $ (247)     $(5,191)  $ (5,438)

            See Accompanying Notes to Consolidated Financial Statements
</TABLE>

<PAGE>


                               ANGELES PARTNERS X

                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (in thousands)

<TABLE>
<CAPTION>

                                                              Years Ended December 31,
                                                                  2001        2000
Cash flows from operating activities:
<S>                                                               <C>         <C>
  Net income                                                      $  43        $  29
  Adjustments to reconcile net income to net
   cash provided by operating activities:
   Depreciation                                                     496          454
   Amortization of discounts and loan costs                          43           39
   Change in accounts:
      Receivables and deposits                                       47          155
      Other assets                                                   --            1
      Accounts payable                                                7           55
      Tenant security deposit liabilities                             6            8
      Accrued property taxes                                        (10)          --
      Due to General Partner                                          2           --
      Other liabilities                                             (44)          (5)

      Net cash provided by operating activities                     590          736

Cash flows from investing activities:
  Property improvements and replacements                           (504)        (775)
  Net (deposits to) withdrawals from restricted escrows             (15)           1

       Net cash used in investing activities                       (519)        (774)

Cash flows from financing activities:
  Payments on mortgage notes payable                               (126)        (112)
  Advances from General Partner                                     137           --
  Distributions to partners                                        (156)        (780)

       Net cash used in financing activities                       (145)        (892)

Net decrease in cash and cash equivalents                           (74)        (930)

Cash and cash equivalents at beginning of year                      158        1,088

Cash and cash equivalents at end year                            $   84       $  158

Supplemental disclosure of cash flow information:
  Cash paid for interest                                         $  652       $  628
Supplemental disclosure of non-cash activity:
  Property improvements and replacements in accounts
   payable                                                       $   --       $   83

            See Accompanying Notes to Consolidated Financial Statements
</TABLE>

<PAGE>


                               ANGELES PARTNERS X

                     NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

                                December 31, 2001


Note A - Organization and Significant Accounting Policies

Organization:  Angeles  Partners  X (the  "Registrant"  or  "Partnership")  is a
publicly-held limited partnership organized under the California Uniform Limited
Partnership  Act  pursuant to a  Certificate  and Amended  Agreement  of Limited
Partnership  (hereinafter  referred to as the "Agreement")  dated June 24, 1980.
The general partner responsible for management of the Partnership's  business is
Angeles  Realty  Corporation  ("ARC"),  a  California  corporation  (hereinafter
referred to as the "General  Partner").  Effective  December  1992,  100% of the
General  Partners'  outstanding  stock was purchased by MAE GP Corporation ("MAE
GP").  Effective February 25, 1998, MAE GP merged into Insignia Properties Trust
("IPT"),  which was merged into  Apartment  Investment  and  Management  Company
("AIMCO")  effective  February  26,  1999.  Thus,  the General  Partner is now a
wholly-owned  subsidiary  of AIMCO.  The Elliott  Family  Partnership,  Ltd.,  a
California limited  partnership,  was the Non-Managing  General Partner. On June
30, 2000, the Elliott Family  Partnership  sold its remaining  interest to AIMCO
Properties,  LP, a wholly-owned subsidiary of AIMCO. The General Partner and the
Non-Managing General Partner are herein collectively referred to as the "General
Partners".  The  director  and  officers  of the General  Partner  also serve as
executive  officers  of  AIMCO.  The  Partnership  Agreement  provides  that the
Partnership is to terminate on December 31, 2035 unless terminated prior to such
date. The  Partnership  commenced  operations on May 12, 1981, and completed its
acquisition of properties  during 1982. The  Partnership  operates two apartment
properties located in Alabama and Michigan.

Principles of Consolidation:  The consolidated  financial statements include all
the accounts of the  Partnership  and its 99% limited  partnership  interests in
Cardinal Woods  Apartments,  Ltd. and Carriage AP X Ltd. The general  partner of
the  consolidated  partnerships  is Angeles Realty  Corporation.  Angeles Realty
Corporation  may  be  removed  as  the  general  partner  of  the   consolidated
partnership by the Registrant;  therefore,  the  consolidated  partnerships  are
controlled and consolidated by the Registrant. All significant  interpartnership
balances have been eliminated.

Allocations to Partners: Net income (other than that arising from the occurrence
of a sale or  disposition)  and net loss shall be  allocated  1% to the  General
Partners  and  99% to the  Limited  Partners.  Gains  from  the  sale  or  other
disposition  of assets  shall be  allocated  as follows:  first,  to the General
Partners  to the  extent  of  any  incentive  distribution,  as  defined  in the
Partnership Agreement, to which the General Partner is entitled;  second, to the
partners in proportion to their interests in the Partnership.

Except as discussed below, the Partnership will allocate distributions 1% to the
General Partners and 99% to the Limited Partners.

Upon  the  sale or  other  disposition,  or  refinancing,  of any  asset  of the
Partnership  other than in connection with the  dissolution of the  Partnership,
the  Distributable  Net  Proceeds  thereof,  if any,  which the General  Partner
determines  are not required for support of the  operations  of the  Partnership
must be distributed: (i) first, to the General Partners and the Limited Partners
in proportion to their interests in the Partnership,  until all Limited Partners
have  received   distributions   equal  to  their  Original  Capital  Investment
Applicable to the Disposition plus their 6% additional Cumulative  Distribution;
(ii) second,  to the General  Partner in an amount equal to 4% of the  aggregate
sales price of the property  ("Incentive  Distribution");  (iii)  third,  to the
General  Partners and the Limited  Partners in proportion to their  interests in
the Partnership  until all Limited Partners shall have received their additional
4% Cumulative Distribution;  and (iv) thereafter,  the remaining proceeds of the
disposition  shall be  distributed  eighty-eight  percent  (88%) to the  Limited
Partners in proportion to their interests in the Partnership, and twelve percent
(12%) to the General Partners.

Depreciation:  Depreciation  is  provided by the  straight-line  method over the
estimated lives of the apartment  properties and related personal property.  For
Federal income tax purposes,  the  accelerated  cost recovery method is used for
real property over 18 years for additions after March 15, 1984 and before May 9,
1985, and 19 years for additions  after May 8, 1985, and before January 1, 1987.
As a result of the Tax Reform Act of 1986,  for  additions  after  December  31,
1986, the modified  accelerated cost recovery method is used for depreciation of
(1) real property over 27 1/2 years and (2) personal  property  additions over 5
years.

Cash and Cash Equivalents: Includes cash on hand and in banks. At certain times,
the amount of cash deposited at a bank may exceed the limit on insured deposits.
Cash  balances  include  approximately  $78,000  at  December  31,  2001 that is
maintained by an affiliated  management company on behalf of affiliated entities
in cash concentration accounts.

Tenant  Security  Deposits:  The  Partnership  requires  security  deposits from
lessees for the duration of the lease.  The security  deposits are refunded when
the tenant vacates, provided the tenant has not damaged its space and is current
on its rental payments.

Investment Properties:  Investment properties consist of two apartment complexes
and are  stated  at cost.  Acquisition  fees are  capitalized  as a cost of real
estate. In accordance with Statement of Financial  Accounting Standards ("SFAS")
No. 121,  "Accounting for the Impairment of Long-Lived Assets and for Long-Lived
Assets  to be  Disposed  Of",  the  Partnership  records  impairment  losses  on
long-lived assets used in operations when events and circumstances indicate that
the assets might be impaired  and the  undiscounted  cash flows  estimated to be
generated by those assets are less than the  carrying  amounts of those  assets.
Costs of apartment  properties  that have been  permanently  impaired  have been
written down to appraised  value.  No  adjustments  for impairment of value were
recorded in the years ended  December 31, 2001 or 2000.  See "Recent  Accounting
Pronouncements" below.

Restricted Escrows:

    Reserve  Account:  A  general  reserve  account  was  established  with  the
    refinancing proceeds for Greentree Apartments.  These funds were established
    to cover necessary repairs and replacements of existing  improvements,  debt
    service,   out-of-pocket   expenses  incurred  for  ordinary  and  necessary
    administrative  tasks,  and  payment of real  property  taxes and  insurance
    premiums.  Distributions may be restricted by the requirement to deposit net
    operating  income (as defined in the mortgage note) into the Reserve Account
    until the Reserve  Account is funded in an amount  equal to $200 to $400 per
    apartment  unit for Greentree  Apartments for a total of $35,600 to $71,200.
    As of December  31, 2001,  the  Partnership  has  deposits of  approximately
    $65,000  in the  reserve  account.  A  replacement  reserve  account is also
    maintained  for  Carriage  Hills   Apartments.   Reserve  escrows  for  both
    properties totaled approximately $104,000 at December 31, 2001.

Loan Costs: Loan costs of approximately  $302,000 less accumulated  amortization
of  approximately  $219,000,  are included in other  assets in the  accompanying
consolidated  balance sheet.  Loan costs are amortized on a straight-line  basis
over the life of the loans and the amortization is included in interest expense.

Leases: The Partnership  generally leases apartment units for twelve month terms
or less. The Partnership recognizes income as earned on its leases. In addition,
the General Partner's policy is to offer rental concessions during  particularly
slow months or in response to heavy  competition from other similar complexes in
the area. Concessions are charged against rental income as incurred.

Use of Estimates:  The  preparation of financial  statements in conformity  with
accounting   principles   generally  accepted  in  the  United  States  requires
management to make estimates and assumptions that affect the amounts reported in
the financial  statements and  accompanying  notes.  Actual results could differ
from those estimates.

Fair Value of Financial Instruments: SFAS No. 107, "Disclosures about Fair Value
of  Financial  Instruments",  as amended  by SFAS No.  119,  "Disclosures  about
Derivative  Financial  Instruments  and Fair  Value of  Financial  Instruments",
requires  disclosure  of fair value  information  about  financial  instruments,
whether or not recognized in the balance  sheet,  for which it is practicable to
estimate  fair  value.  Fair value is defined in the SFAS as the amount at which
the  instruments  could be exchanged in a current  transaction  between  willing
parties,  other than in a forced or liquidation  sale. The Partnership  believes
that the  carrying  amount of its  financial  instruments  (except for long term
debt)  approximates  their fair value due to the short  term  maturity  of these
instruments.  The  fair  value  of  the  Partnership's  long  term  debt,  after
discounting the scheduled loan payments to maturity,  approximates  its carrying
balance.

Segment Reporting: SFAS No. 131, "Disclosure about Segments of an Enterprise and
Related  Information"  established  standards  for the way that public  business
enterprises  report  information  about operating  segments in annual  financial
statements and requires that those enterprises report selected information about
operating segments in interim financial reports.  It also establishes  standards
for related disclosures about products and services, geographic areas, and major
customers.  As defined in SFAS No. 131, the  Partnership has only one reportable
segment.  The General Partner believes that  segment-based  disclosures will not
result  in a  more  meaningful  presentation  than  the  consolidated  financial
statements as currently presented.

Advertising  Costs:  The  Partnership  expenses  the  costs  of  advertising  as
incurred.  Advertising costs of approximately $30,000 and $52,000, for the years
ended  December  31,  2001 and 2000,  respectively,  were  charged to  operating
expense as incurred.

Recent  Accounting  Pronouncements:  In August 2001,  the  Financial  Accounting
Standards Board issued SFAS No. 144,  "Accounting for the Impairment or Disposal
of Long-Lived  Assets".  SFAS No. 144 provides accounting guidance for financial
accounting  and reporting for the  impairment or disposal of long-lived  assets.
SFAS No.  144  supersedes  SFAS  No.  121,  "Accounting  for the  Impairment  of
Long-Lived  Assets and for Long-Lived Assets to be Disposed Of". SFAS No. 144 is
effective  for fiscal years  beginning  after  December  15,  2001.  The General
Partner does not anticipate that its adoption will have a material effect on the
financial position or results of operations of the Partnership.

Note B - Mortgage Notes Payable

<TABLE>
<CAPTION>

                            Principal       Monthly                            Principal
                            Balance At      Payment                             Balance
                           December 31,    Including   Interest   Maturity      Due At
Property                       2001        Interest      Rate       Date       Maturity
                                 (in thousands)                             (in thousands)

Greentree Apartments
<S>                          <C>              <C>        <C>       <C>        <C>
  1st mortgage               $ 3,255          27         7.83%     10/03      $3,135
  2nd mortgage                   113           1         7.83%     10/03         113

Carriage Hills
  Apartments
  1st mortgage                 5,172          37         7.39%     12/04       4,958
                               8,540         $65
Less unamortized
  discounts at a rate
  of 8.13% (a)                   (14)

     Total                   $ 8,526                                          $8,206
</TABLE>

(a)  An interest rate  buy-down was  exercised  for Greentree  when the debt was
     refinanced.  The fee for the interest rate  reductions  amounted to $73,700
     and is being  amortized as a mortgage  discount on the interest method over
     the life of the loan.  The  unamortized  discount  fees are  reflected as a
     reduction of the note payable and increase the  effective  rate of the debt
     to 8.13%.

Scheduled  principal  payments of mortgage notes payable  subsequent to December
31, 2001, are as follows (in thousands):

                                2002            $  135
                                2003             3,375
                                2004             5,030
                                                $8,540

The  mortgage  notes  payable are  nonrecourse  and are secured by pledge of the
respective  properties  and by a  pledge  of  revenues  from  operations  of the
respective properties. Certain of the mortgage notes impose prepayment penalties
if repaid prior to maturity.  Further, the properties may not be sold subject to
existing indebtedness.

Note C - Income Taxes

The Partnership has received a ruling from the Internal  Revenue Service that it
will  be  classified  as  a  partnership   for  Federal   income  tax  purposes.
Accordingly,  no provision for income taxes is made in the financial  statements
of the Partnership. Taxable income or loss of the Partnership is reported in the
income tax returns of its partners.

The  following is a  reconciliation  of reported net income and Federal  taxable
income (in thousands):

                                          2001          2000

Net income as reported                   $   43       $    29
Add (deduct):
     Depreciation differences               157           238
     Unearned income                         --             7
     Other                                   --           (28)
     Mortgage discount                      (45)           (8)

Federal taxable income                   $  155       $   238

Federal taxable income per
     limited partnership unit            $ 8.25       $ 15.39

The  following  is  a   reconciliation   at  December  31,  2001,   between  the
Partnership's  reported  amounts and Federal  tax basis of net  liabilities  (in
thousands):

Net liabilities - as reported         $ (5,438)
 Land and buildings                      1,616
 Accumulated depreciation               (1,916)
 Syndication fees                        2,071
 Other                                      62
Net liabilities - Federal tax basis   $ (3,605)

Note D - Transactions with Affiliated Parties

The Partnership has no employees and is dependent on the General Partner and its
affiliates for the management and administration of all Partnership  activities.
The Partnership  Agreement  provides for (i) payments to affiliates for services
and (ii)  reimbursement of certain expenses  incurred by affiliates on behalf of
the  Partnership.  The  following  payments  were paid or accrued to the General
Partner and its affiliates during the years ended December 31, 2001 and 2000:

                                                               2001      2000
                                                               (in thousands)
Property management fees (included in operating expenses)     $ 134     $ 124
Reimbursement for services of affiliates (included in
 general and administrative expenses and investment
 properties)                                                    193       178
Partnership management fee (included in general and
 administrative expense)                                         --         3
Due to General Partner                                          139        --

During the year ended  December  31,  2001 and 2000,  affiliates  of the General
Partner  were  entitled to receive 5% of gross  receipts  from the  Registrant's
properties for providing property  management  services.  The Registrant paid to
such affiliates approximately $134,000 and $124,000, respectively, for the years
ended December 31, 2001 and 2000.

Affiliates  of  the  General  Partner  received   reimbursement  of  accountable
administrative expenses amounting to approximately $193,000 and $178,000 for the
years ended December 31, 2001 and 2000, respectively.  Included in these amounts
are fees related to construction management services provided by an affiliate of
the General  Partner of  approximately  $111,000 and $44,000 for the years ended
December 31, 2001 and 2000,  respectively.  The construction  management service
fees are  calculated  based on a  percentage  of current and certain  prior year
additions to  investment  properties  and are being  depreciated  over 15 years.
During the fourth  quarter of 2001,  the  Partnership  recorded an adjustment to
management reimbursements to the General Partner of approximately $46,000 due to
a change in estimated costs.

In accordance with the Partnership Agreement, the General Partner has loaned the
Partnership  funds to cover capital  improvements  at Greentree  Apartments.  At
December 31, 2001, the amount of the outstanding  loans and accrued interest was
approximately  $139,000 and is included in Due to General  Partner.  Interest is
charged at the prime rate plus 2%. Interest expense was approximately $2,000 for
the year ended December 31, 2001.  There were no loans from the General  Partner
or associated interest expense during the year ended December 31, 2000.

A management fee of approximately  $3,000 was accrued to the General Partner for
the year ended December 31, 2000 relating to net cash from operations as defined
in the  Partnership  Agreement.  No such management fee was accrued for the year
ended December 31, 2001.

Pursuant  to the  Partnership  Agreement,  the  General  Partner is  entitled to
receive a distribution  equal to 4% of the aggregate  disposition  price of sold
properties.  The  Partnership  paid a distribution  of $154,000,  to the General
Partner related to the sale of Vista Hills Apartments in 1999. This distribution
is  subordinate  to  the  limited  partners  receiving  their  original  capital
contributions  plus a  cumulative  preferred  return  of 6% per  annum  of their
adjusted capital  investment,  as defined in the Partnership  Agreement.  If the
limited   partners  have  not  received  these  returns  when  the   Partnership
terminates, the General Partner will return this amount to the Partnership.

Beginning in 2001, the  Partnership  began insuring its properties up to certain
limits through coverage provided by AIMCO which is generally  self-insured for a
portion of losses and  liabilities  related  to workers  compensation,  property
casualty and vehicle liability. The Partnership insures its properties above the
AIMCO  limits  through  insurance  policies  obtained  by  AIMCO  from  insurers
unaffiliated with the General Partner.  During the year ended December 31, 2001,
the  Partnership  paid  AIMCO  and  its  affiliates  approximately  $26,000  for
insurance coverage and fees associated with policy claims administration.

In addition to its  indirect  ownership of the general  partner  interest in the
Partnership,  AIMCO and its affiliates owned 9,911 limited  partnership units in
the Partnership  representing  approximately  53.21% of the outstanding units at
December  31,  2001.  A number of these units were  acquired  pursuant to tender
offers  made by  AIMCO  or its  affiliates.  It is  possible  that  AIMCO or its
affiliates will make one or more additional offers to acquire additional limited
partnership  interests in the  Partnership  for cash or in exchange for units in
the operating partnership of AIMCO. Under the Partnership Agreement, unitholders
holding a majority of the units are  entitled  to take action with  respect to a
variety of matters,  which would  include  voting on certain  amendments  to the
Partnership  Agreement and voting to remove the General Partner.  As a result of
its ownership of approximately  53.21% of the outstanding  units,  AIMCO is in a
position to control all such voting  decisions  with respect to the  Registrant.
When voting on matters, AIMCO would in all likelihood vote the units it acquired
in a manner  favorable  to the  interest of the General  Partner  because of its
affiliation with the General Partner.

Note E - Investment Properties and Accumulated Depreciation

                                                  Initial Cost
                                                 To Partnership
                                                 (in thousands)
<TABLE>
<CAPTION>

                                                         Buildings         Cost
                                                        and Related     Capitalized
                                                          Personal     Subsequent to
        Description           Encumbrances     Land       Property      Acquisition
                             (in thousands)                           (in thousands)

<S>                             <C>         <C>           <C>            <C>
Greentree Apartments            $ 3,368     $   211       $ 3,345        $ 1,453
Carriage Hills Apartments         5,172         101         3,509          1,997
  Totals                        $ 8,540     $   312       $ 6,854        $ 3,450
</TABLE>

                       Gross Amount At Which Carried
                         At December 31, 2001
                            (in thousands)

<TABLE>
<CAPTION>

                            Buildings
                           And Related
                            Personal             Accumulated    Date of      Date   Depreciable
    Description      Land   Property     Total   Depreciation Construction Acquired Life-Years
                                                (in thousands)

<S>                  <C>     <C>       <C>         <C>           <C>      <C>   <C>   <C>
Greentree Apartments $ 211   $ 4,798   $ 5,009     $ 3,930       8/74     12/31/81    5-25
Carriage Hill          101     5,506     5,607       3,654       6/72     7/30/82     5-25
  Apartments
  Totals             $ 312   $10,304   $10,616     $ 7,584
</TABLE>

Reconciliation of "Real Estate and Accumulated Depreciation":

                                                Years Ended December 31,
                                                  2001            2000
                                                     (in thousands)

Investment Properties

Balance at beginning of year                   $10,195          $ 9,337
    Property improvements                          421              858

Balance at end of year                         $10,616          $10,195

Accumulated Depreciation

Balance at beginning of year                   $ 7,088          $ 6,634
    Depreciation expense                           496              454

Balance at end of year                         $ 7,584          $ 7,088

The  aggregate  cost of the real  estate  for  Federal  income tax  purposes  at
December  31,  2001 and 2000,  is  approximately  $12,232,000  and  $11,810,000,
respectively.  The  accumulated  depreciation,  taken  for  Federal  income  tax
purposes  at  December  31,  2001 and  2000,  is  approximately  $9,500,000  and
$9,161,000, respectively.

Note F - Distributions

During the year ended December 31, 2001, the Partnership  paid a distribution of
approximately $156,000  (approximately $154,000 to the limited partners or $8.27
per  limited   partnership   unit)  from  operations.   Cash   distributions  of
approximately  $780,000 were paid to the partners during the year ended December
31, 2000,  $130,000 of which was related to a payable at December 31, 1999.  The
remaining  $650,000  (approximately  $643,000  of which was paid to the  limited
partners or $34.52 per limited partnership unit) was paid from operations.

Note G - Legal Proceedings

In March 1998, several putative unit holders of limited partnership units of the
Partnership  commenced an action  entitled  Rosalie  Nuanes,  et al. v. Insignia
Financial Group, Inc., et al. (the "Nuanes action") in the Superior Court of the
State of  California  for the  County  of San  Mateo.  The  plaintiffs  named as
defendants,  among others,  the Partnership,  its General Partner and several of
their  affiliated  partnerships and corporate  entities.  The action purports to
assert  claims on behalf of a class of  limited  partners  and  derivatively  on
behalf of a number of limited partnerships (including the Partnership) which are
named as nominal defendants, challenging, among other things, the acquisition of
interests in certain general partner entities by Insignia  Financial Group, Inc.
("Insignia") and entities which were, at one time, affiliates of Insignia;  past
tender offers by the Insignia  affiliates to acquire limited  partnership units;
management of the  partnerships  by the Insignia  affiliates;  and the series of
transactions  which  closed on October 1, 1998 and  February  26,  1999  whereby
Insignia and Insignia  Properties Trust,  respectively,  were merged into AIMCO.
The plaintiffs seek monetary damages and equitable  relief,  including  judicial
dissolution of the  Partnership.  On June 25, 1998, the General  Partner filed a
motion seeking dismissal of the action. In lieu of responding to the motion, the
plaintiffs  filed an amended  complaint.  The General Partner filed demurrers to
the amended complaint which were heard February 1999.

Pending the ruling on such  demurrers,  settlement  negotiations  commenced.  On
November 2, 1999,  the parties  executed and filed a Stipulation  of Settlement,
settling claims, subject to court approval, on behalf of the Partnership and all
limited partners who owned units as of November 3, 1999. Preliminary approval of
the  settlement  was obtained on November 3, 1999 from the Court,  at which time
the Court set a final  approval  hearing for  December  10,  1999.  Prior to the
December  10,  1999  hearing,  the  Court  received  various  objections  to the
settlement, including a challenge to the Court's preliminary approval based upon
the alleged lack of authority of prior lead counsel to enter the settlement.  On
December  14,  1999,  the General  Partner  and its  affiliates  terminated  the
proposed settlement.  In February 2000, counsel for some of the named plaintiffs
filed a motion to disqualify plaintiff's lead and liaison counsel who negotiated
the settlement.  On June 27, 2000, the Court entered an order disqualifying them
from the case and an appeal was taken  from the order on  October  5,  2000.  On
December 4, 2000, the Court  appointed the law firm of Lieff Cabraser  Heimann &
Bernstein  LLP as new  lead  counsel  for  plaintiffs  and the  putative  class.
Plaintiffs  filed a third  amended  complaint on January 19,  2001.  On March 2,
2001,  the  General  Partner  and its  affiliates  filed a demurrer to the third
amended  complaint.  On May 14, 2001,  the Court heard the demurrer to the third
amended  complaint.  On July 10,  2001,  the Court  issued  an order  sustaining
defendants'  demurrer on certain grounds.  On July 20, 2001,  Plaintiffs filed a
motion for  reconsideration  of the Court's July 10, 2001 order granting in part
and denying in part defendants' demurrer. On September 7, 2001, Plaintiffs filed
a fourth amended class and derivative action  complaint.  On September 12, 2001,
the Court denied Plaintiffs' motion for reconsideration. On October 5, 2001, the
General Partner and affiliated defendants filed a demurrer to the fourth amended
complaint,  which was heard on December 11, 2001. On February 2, 2002, the Court
served its order granting in part the demurrer.  The Court has dismissed without
leave  to amend  certain  of the  plaintiffs'  claims.  On  February  11,  2002,
plaintiffs  filed a motion seeking to certify a putative class  comprised of all
non-affiliated  persons  who own or have owned  units in the  partnerships.  The
General  Partner and affiliated  defendants  intend to oppose the motion and are
scheduled  to file their  opposition  brief on March 26,  2002. A hearing on the
motion has been  scheduled for April 29, 2002.  The Court has set the matter for
trial in January 2003.

During the third  quarter of 2001, a complaint  (the "Heller  action") was filed
against  the same  defendants  that are named in the  Nuanes  action,  captioned
Heller v. Insignia Financial Group. On or about August 6, 2001, plaintiffs filed
a first amended  complaint.  The first amended complaint in the Heller action is
brought as a purported  derivative  action,  and asserts  claims for among other
things  breach  of  fiduciary  duty;  unfair  competition;   conversion,  unjust
enrichment;  and judicial  dissolution.  Plaintiffs in the Nuanes action filed a
motion to  consolidate  the Heller action with the Nuanes action and stated that
the Heller action was filed in order to preserve the derivative claims that were
dismissed  without  leave to amend in the Nuanes action by the Court order dated
July 10, 2001. On October 5, 2001, the General Partner and affiliated defendants
moved to strike the first  amended  complaint in its entirety for  violating the
Court's  July 10, 2001 order  granting  in part and denying in part  defendants'
demurrer in the Nuanes action, or  alternatively,  to strike certain portions of
the  complaint  based on the statute of  limitations.  Other  defendants  in the
action demurred to the fourth amended complaint,  and,  alternatively,  moved to
strike the  complaint.  On December  11, 2001,  the court heard  argument on the
motions and took the matters under  submission.  On February 4, 2002,  the Court
served  notice of its order  granting  defendants'  motion to strike  the Heller
complaint as a violation of its July 10, 2001 order in the Nuanes action.

The  General  Partner  does not  anticipate  that any  costs,  whether  legal or
settlement  costs,   associated  with  these  cases  will  be  material  to  the
Partnership's overall operations.

The Partnership is unaware of any pending or outstanding  litigation that is not
of a routine nature arising in the ordinary course of business.


<PAGE>



Item 8. Changes in and Disagreements with Accountant on Accounting and Financial
        Disclosures

         None.


<PAGE>



                                    PART III


Item 9. Directors, Executive Officers, Promoters and Control Persons; Compliance
        with Section 16(a) of the Exchange Act

The Registrant has no officers or directors.

The  names  and ages of,  as well as the  positions  and  offices  held by,  the
executive  officers  and  director  of  the  General  Partner,   Angeles  Realty
Corporation,  are set forth below. There are no family relationships  between or
among any officers and director.

Name                        Age    Position

Patrick J. Foye              44    Executive Vice President and Director
Martha L. Long               42    Senior Vice President and Controller

Patrick J. Foye has been  Executive  Vice  President and Director of the General
Partner since October 1, 1998.  Mr. Foye has served as Executive  Vice President
of AIMCO since May 1998.  Prior to joining AIMCO,  Mr. Foye was a partner in the
law firm of Skadden,  Arps, Slate,  Meagher & Flom LLP from 1989 to 1998 and was
Managing Partner of the firm's  Brussels,  Budapest and Moscow offices from 1992
through  1994.  Mr.  Foye is also  Deputy  Chairman  of the  Long  Island  Power
Authority and serves as a member of the New York State Privatization Council. He
received a B.A.  from Fordham  College and a J.D.  from Fordham  University  Law
School.

Martha L. Long has been  Senior Vice  President  and  Controller  of the General
Partner since October 1998 as a result of the acquisition of Insignia  Financial
Group, Inc. As of February 2001, Ms. Long was also appointed head of the service
business for AIMCO.  From June 1994 until January 1997,  she was the  Controller
for Insignia, and was promoted to Senior Vice President - Finance and Controller
in January 1997,  retaining  that title until  October  1998.  From 1988 to June
1994,  Ms. Long was Senior Vice  President and  Controller for The First Savings
Bank, FSB in Greenville, South Carolina.

One or more of the above persons are also directors and/or officers of a general
partner (or general partner of a general partner) of limited  partnerships which
either have a class of  securities  registered  pursuant to Section 12(g) of the
Securities Exchange Act of 1934, or are subject to the reporting requirements of
Section  15(d) of such Act.  Further,  one or more of the above persons are also
directors and/or officers of Apartment Investment and Management Company and the
general  partner  of  AIMCO  Properties,  L.P.,  entities  that  have a class of
securities  registered  pursuant to Section 12(g) of the Securities Exchange Act
of 1934, or are subject to the reporting  requirements of Section 15 (d) of such
Act.

The  executive  officers  and  director  of  the  General  Partner  fulfill  the
obligations  of the Audit  Committee  and  oversee the  Partnership's  financial
reporting  process on behalf of the General Partner.  Management has the primary
responsibility for the financial  statements and the reporting process including
the systems of internal controls. In fulfilling its oversight  responsibilities,
the executive  officers and director of the General Partner reviewed the audited
financial  statements with management including a discussion of the quality, not
just the  acceptability,  of the accounting  principles,  the  reasonableness of
significant  judgments,   and  the  clarity  of  disclosures  in  the  financial
statements.

The  executive  officers and director of the General  Partner  reviewed with the
independent  auditors,  who are  responsible  for  expressing  an opinion on the
conformity of those audited  financial  statements  with  accounting  principles
generally accepted in the United States,  their judgments as to the quality, not
just the  acceptability,  of the  Partnership's  accounting  principles and such
other  matters as are required to be discussed  with the Audit  Committee or its
equivalent under auditing standards  generally accepted in the United States. In
addition,  the  Partnership  has  discussed  with the  independent  auditors the
auditors' independence from management and the Partnership including the matters
in the written  disclosures  required by the  Independence  Standards  Board and
considered  the   compatibility   of  non-audit   services  with  the  auditors'
independence.

The executive  officers and director of the General  Partner  discussed with the
Partnership's  independent auditors the overall scope and plans for their audit.
In  reliance on the reviews and  discussions  referred to above,  the  executive
officers and director of the General  Partner has approved the  inclusion of the
audited financial  statements in the Form 10-KSB for the year ended December 31,
2001 for filing with the Securities and Exchange Commission.

The General Partner has reappointed Ernst & Young LLP as independent auditors to
audit the financial  statements of the  Partnership for the current fiscal year.
Fees for the last fiscal year were audit services of  approximately  $40,000 and
non-audit services (principally tax-related) of approximately $21,000.

Item 10. Executive Compensation

None  of  the  officers  and  director  of  the  General  Partner  received  any
remuneration from the Registrant.

Item 11. Security Ownership of Certain Beneficial Owners and Management

Except as noted below, no person or entity was known by the Registrant to be the
beneficial  owner of more than 5% of the Limited Partner Units of the Registrant
as of December 31, 2001.

Entity                                  Number of Units      Percentage

Insignia Properties LP                         135               .72%
(an affiliate of AIMCO)
Cooper River Properties, LLC                 3,784             20.32%
(an affiliate of AIMCO)
AIMCO Properties, LP                         5,992             32.17%
(an affiliate of AIMCO)

Cooper  River  Properties,  LLC  and  Insignia  Properties  LP,  are  indirectly
ultimately  owned  by  AIMCO.  Their  business  address  is  55  Beattie  Place,
Greenville, SC 29602.

AIMCO Properties LP is indirectly  ultimately  controlled by AIMCO. Its business
address is 2000 South Colorado Boulevard, Denver, Colorado 80222.


<PAGE>



Item 12. Certain Relationships and Related Transactions

The Partnership has no employees and is dependent on the General Partner and its
affiliates for the management and administration of all Partnership  activities.
The Partnership  Agreement  provides for (i) payments to affiliates for services
and (ii)  reimbursement of certain expenses  incurred by affiliates on behalf of
the  Partnership.  The  following  payments  were paid or accrued to the General
Partner and its affiliates during the years ended December 31, 2001 and 2000:

                                                               2001      2000
                                                               (in thousands)
Property management fees                                      $ 134     $ 124
Reimbursement for services of affiliates                        193       178
Partnership management fee                                       --         3
Due to General Partner                                          139        --

During the year ended  December  31,  2001 and 2000,  affiliates  of the General
Partner  were  entitled to receive 5% of gross  receipts  from the  Registrant's
properties for providing property  management  services.  The Registrant paid to
such affiliates approximately $134,000 and $124,000, respectively, for the years
ended December 31, 2001 and 2000.

Affiliates  of  the  General  Partner  received   reimbursement  of  accountable
administrative expenses amounting to approximately $193,000 and $178,000 for the
years ended December 31, 2001 and 2000, respectively.  Included in these amounts
are fees related to construction management services provided by an affiliate of
the General  Partner of  approximately  $111,000 and $44,000 for the years ended
December 31, 2001 and 2000,  respectively.  The construction  management service
fees are  calculated  based on a  percentage  of current and certain  prior year
additions to  investment  properties  and are being  depreciated  over 15 years.
During the fourth  quarter of 2001,  the  Partnership  recorded an adjustment to
management reimbursements to the General Partner of approximately $46,000 due to
a change in estimated costs.

In accordance with the Partnership Agreement, the General Partner has loaned the
Partnership  funds to cover capital  improvements  at Greentree  Apartments.  At
December 31, 2001, the amount of the outstanding  loans and accrued interest was
approximately  $139,000 and is included in Due to General  Partner.  Interest is
charged at the prime rate plus 2%. Interest expense was approximately $2,000 for
the year ended December 31, 2001.  There were no loans from the General  Partner
or associated interest expense during the year ended December 31, 2000.

A management fee of approximately  $3,000 was accrued to the General Partner for
the year ended December 31, 2000 relating to net cash from operations as defined
in the  Partnership  Agreement.  No such management fee was accrued for the year
ended December 31, 2001.

Pursuant  to the  Partnership  Agreement,  the  General  Partner is  entitled to
receive a distribution  equal to 4% of the aggregate  disposition  price of sold
properties.  The  Partnership  paid a distribution  of $154,000,  to the General
Partner related to the sale of Vista Hills Apartments in 1999. This distribution
is  subordinate  to  the  limited  partners  receiving  their  original  capital
contributions  plus a  cumulative  preferred  return  of 6% per  annum  of their
adjusted capital  investment,  as defined in the Partnership  Agreement.  If the
limited   partners  have  not  received  these  returns  when  the   Partnership
terminates, the General Partner will return this amount to the Partnership.

Beginning in 2001, the  Partnership  began insuring its properties up to certain
limits through coverage provided by AIMCO which is generally  self-insured for a
portion of losses and  liabilities  related  to workers  compensation,  property
casualty and vehicle liability. The Partnership insures its properties above the
AIMCO  limits  through  insurance  policies  obtained  by  AIMCO  from  insurers
unaffiliated with the General Partner.  During the year ended December 31, 2001,
the  Partnership  paid  AIMCO  and  its  affiliates  approximately  $26,000  for
insurance coverage and fees associated with policy claims administration.

In addition to its  indirect  ownership of the general  partner  interest in the
Partnership,  AIMCO and its affiliates owned 9,911 limited  partnership units in
the Partnership  representing  approximately  53.21% of the outstanding units at
December  31,  2001.  A number of these units were  acquired  pursuant to tender
offers  made by  AIMCO  or its  affiliates.  It is  possible  that  AIMCO or its
affiliates will make one or more additional offers to acquire additional limited
partnership  interests in the  Partnership  for cash or in exchange for units in
the operating partnership of AIMCO. Under the Partnership Agreement, unitholders
holding a majority of the units are  entitled  to take action with  respect to a
variety of matters,  which would  include  voting on certain  amendments  to the
Partnership  Agreement and voting to remove the General Partner.  As a result of
its ownership of approximately  53.21% of the outstanding  units,  AIMCO is in a
position to control all such voting  decisions  with respect to the  Registrant.
When voting on matters, AIMCO would in all likelihood vote the units it acquired
in a manner  favorable  to the  interest of the General  Partner  because of its
affiliation with the General Partner.


<PAGE>


                                     PART IV


Item 13. Exhibits and Reports on Form 8-K

         (a)   Exhibits:

               None.

         (b)   Reports on Form 8-K filed  during the fourth  quarter of calendar
               year 2001:

               None.


<PAGE>


                                   SIGNATURES



In accordance  with Section 13 or 15(d) of the Exchange Act, the  Registrant has
caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.



                               ANGELES PARTNERS X


                                 By:     Angeles Realty Corporation
                                         Its General Partner

                                 By:     /s/Patrick J. Foye
                                         Patrick J. Foye
                                         Executive Vice President

                                 By:     /s/Martha L. Long
                                         Senior Vice President and
                                         Controller

                                 Date:  March 25, 2002

In  accordance  with the Exchange  Act, this report has been signed below by the
following  persons on behalf of the Registrant and in the capacities on the date
indicated.

/s/Patrick J. Foye        Executive Vice President    Date: March 25, 2002
Patrick J. Foye           and Director


/s/Martha L. Long         Senior Vice President       Date: March 25, 2002
Martha L. Long            and Controller


<PAGE>



                                  EXHIBIT INDEX


Exhibit Number    Description

      2.1         Agreement and Plan of Merger,  dated as of October 1, 1998, by
                  and  between  AIMCO  and IPT  (incorporated  by  reference  to
                  Exhibit  2.1 of IPT's  Current  Report on Form  8-K,  File No.
                  1-14179, dated October 1, 1998).

      3.1         Amended Certificate and Agreement of Limited Partnership dated
                  June 24, 1980,  filed in Form 10-K dated October 31, 1982, and
                  is incorporated herein by reference.

      10.1        Purchase and Sale  Agreement  with  Exhibits - Cardinal  Woods
                  filed in Form 8-K dated  October 30, 1981 and is  incorporated
                  herein by reference.

      10.2        Purchase  and  Sale   Agreement   with  Exhibits  -  Greentree
                  Apartments  filed in Form 8-K dated  December  31, 1981 and is
                  incorporated herein by reference.

      10.4        Purchase and Sale  Agreement  with  Exhibits - Carriage  Hills
                  Apartments  filed  in  Form  8-K  dated  July  30,  1982,  and
                  incorporated herein by reference.

      10.5        Third Trust Deed Mortgage - Carriage Hills  Apartments,  filed
                  in Form 10-K,  Exhibit  10.11 dated  December  31, 1990 and is
                  incorporated herein by reference.

      10.6        Second Trust Deed Mortgage - Vista Hills Apartments,  filed in
                  Form 10-Q,  Exhibit  10.13,  dated  September 30, 1990, and is
                  incorporated herein by reference.

      10.7        Promissory  Note -  Greentree  Apartments,  filed  in the Form
                  10-Q,   Exhibit  10.14,   dated  September  30,  1990  and  is
                  incorporated herein by reference.

      10.8        Agreement of Sale between Angeles Partners X, Seller and Bowen
                  Ballard,  Buyer - One East/Two  East Office  Center,  filed in
                  Form  8-K,   Exhibit  I,  dated  February  15,  1991,  and  is
                  incorporated herein by reference.

      10.9        Stock Purchase  Agreement  dated November 24, 1992 showing the
                  purchase of 100% of the  outstanding  stock of Angeles  Realty
                  Corporation  by IAP GP  Corporation,  a  subsidiary  of MAE GP
                  Corporation,  filed in Form 8-K dated December 31, 1992, which
                  is incorporated herein by reference.


<PAGE>



      10.10       Contracts related to financing of debt:

             (a)  First Deeds of Trust and Security  Agreements  dated September
                  30, 1993 between Greentree  Apartments and Lexington  Mortgage
                  Company, a Virginia Corporation, securing Greentree Apartments
                  filed  in Form  10-QSB  dated  September  30,  1993,  which is
                  incorporated herein by reference.

             (b)  Second Deeds of Trust and Security  Agreements dated September
                  30, 1993, between Greentree  Apartments and Lexington Mortgage
                  Company, a Virginia Corporation, securing Greentree Apartments
                  filed  in Form  10-QSB  dated  September  30,  1993,  which is
                  incorporated herein by reference.

             (c)  First Assignments of Leases and Rents dated September 30, 1993
                  between Greentree Apartments and Lexington Mortgage Company, a
                  Virginia  Corporation,  securing Greentree Apartments filed in
                  Form 10-QSB dated  September 30, 1993,  which is  incorporated
                  herein by reference.

             (d)  Second  Assignments  of Leases and Rents dated  September  30,
                  1993  between  Greentree  Apartments  and  Lexington  Mortgage
                  Company, a Virginia Corporation, securing Greentree Apartments
                  filed  in Form  10-QSB  dated  September  30,  1993,  which is
                  incorporated herein by reference.

             (e)  First  Deeds  of  Trust  dated   September  30,  1993  between
                  Greentree Apartments and Lexington Mortgage Company,  relating
                  to Greentree  Apartments  filed in Form 10-QSB dated September
                  30, 1993, which is incorporated herein by reference.

             (f)  Second  Deeds of  Trust  dated  September  30,  1993,  between
                  Greentree Apartments and Lexington Mortgage Company,  relating
                  to Greentree  Apartments  filed in Form 10-QSB dated September
                  30, 1993, which is incorporated herein by reference.

      10.11       Contracts related to refinancing of debt:

             (a)  First Deeds of Trust and Security  Agreements  dated September
                  30, 1993 between  Greentree  Apartments,  Ltd.  and  Lexington
                  Mortgage Company, a Virginia  Corporation,  securing Greentree
                  Apartments  filed in Form 10-QSB  dated  September  30,  1993,
                  which is incorporated herein by reference.

             (b)  Second Deeds of Trust and Security  Agreements dated September
                  30, 1993 between  Greentree  Apartments,  Ltd.  and  Lexington
                  Mortgage Company, a Virginia  Corporation,  securing Greentree
                  Apartments  filed in Form 10-QSB  dated  September  30,  1993,
                  which is incorporated herein by reference.

             (c)  First  Assignments  of Leases and Rents  dated  September  30,
                  1993,  between  Greentree   Apartments,   Ltd.  and  Lexington
                  Mortgage Company, a Virginia  Corporation,  securing Greentree
                  Apartments  filed in Form 10-QSB  dated  September  30,  1993,
                  which is incorporated herein by reference.

             (d)  Second  Assignments  of Leases and Rents dated  September  30,
                  1993,  between  Greentree   Apartments,   Ltd.  and  Lexington
                  Mortgage Company, a Virginia  Corporation,  securing Greentree
                  Apartments  filed in Form 10-QSB  dated  September  30,  1993,
                  which is incorporated herein by reference.

             (e)  First Deeds of Trust Notes dated  September 30, 1993,  between
                  Greentree  Apartments,  Ltd. and Lexington  Mortgage  Company,
                  relating to  Greentree  Apartments  filed in Form 10-QSB dated
                  September 30, 1993, which is incorporated herein by reference.

             (f)  Second Deeds of Trust Notes dated September 30, 1993,  between
                  Greentree  Apartments,  Ltd. and Lexington  Mortgage  Company,
                  relating to  Greentree  Apartments  filed in Form 10-QSB dated
                  September 30, 1993, which is incorporated herein by reference.

      10.12       Contract  to  Purchase  and  Sell  dated  July 7,  1997 by and
                  between Cardinal Woods Apartments,  Ltd. a California  limited
                  partnership,  and  New  Plan  Realty  Trust,  a  Massachusetts
                  business trust, relating to Cardinal Woods Apartments filed in
                  Form 10-QSB  dated  September  30, 1997 which is  incorporated
                  herein by reference.

     10.13        Promissory  Note dated November 20, 1997, by and between
                  Carriage Hills Apartments, Ltd., a Michigan limited
                  partnership, and Lehman Brothers Holdings, Inc., a Delaware
                  corporation.

      10.14       Contract  of Sale of real  estate for Vista  Hills  Apartments
                  dated March 1, 1999,  between Angeles Partners X, a California
                  limited  partnership and  Transcontinental  Vista Hills,  Inc.
                  filed in Form 8-K dated March 1, 1999,  which is  incorporated
                  herein by reference.

      99A         Agreement  of Limited  Partnership  for Angeles  Partners X GP
                  Limited  Partnership  between  Angeles Realty  Corporation and
                  Angeles  Partners X, L.P.  entered into on September 15, 1993,
                  filed  in Form  10-QSB  dated  September  30,  1993,  which is
                  incorporated herein by reference.

      99B         Agreement of Limited  Partnership  of Greentree  Apartments,
                  Ltd. between Angeles Realty Corporation  and Angeles Partners
                  X, L.P. entered  into on  November  1, 1989,  filed in Form
                  10-QSB dated September 30, 1993, which is incorporated herein
                  by reference.

      99C         Purchase  Agreement  dated November 24, 1992, by and among
                  Angeles Corporation, et. al. and IAP GP Corporation and MAE GP
                  Corporation is incorporated by reference to the Report on Form
                  8-K dated December 31, 1992.