March 29, 2000



United States

Securities and Exchange Commission
Washington, D.C.  20549


RE:   Consolidated Capital Properties V
      Form 10-KSB

      File No. 0-13083


To Whom it May Concern:

The  accompanying  Form 10-KSB for the year ended  December 31, 1999 describes a
change in the method of  accounting to  capitalize  exterior  painting and major
landscaping,   which  would  have  been  expensed  under  the  old  policy.  The
Partnership believes that this accounting principle change is preferable because
it  provides a better  matching  of  expenses  with the  related  benefit of the
expenditures and it is consistent with industry practice and the policies of the
General Partner.

Please do not hesitate to contact the undersigned with any questions or comments
that you might have.

Very truly yours,



Stephen Waters
Real Estate Controller


<PAGE>


                     FORM 10-KSB--ANNUAL OR TRANSITIONAL REPORT UNDER

                               SECTION 13 OR 15(d)

                                   Form 10-KSB

(Mark One)
[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, 1999

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

                   For the transition period from _________to _________

                         Commission file number 0-13083

                            CONSOLIDATED CAPITAL PROPERTIES V
                      (Name of small business issuer in its charter)

         California                                               94-2918560
(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:

                      Units of Limited Partnership Interest

                                (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. [ ]

State issuer's revenues for its most recent fiscal year.  $3,283,000

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, 1999. 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



                                     PART I

Item 1.  Description of Business

Consolidated  Capital  Properties  V (the  "Partnership"  or  "Registrant")  was
organized  on June 30,  1983,  as a limited  partnership  under  the  California
Uniform Limited  Partnership Act. The general partner responsible for management
of the Partnership's  business is ConCap Equities,  Inc., a Delaware corporation
(the  "General  Partner"  or "CEI").  The  General  Partner is a  subsidiary  of
Apartment Investment and Management Company ("AIMCO"). The Partnership Agreement
provides  that the  Partnership  is to  terminate  on  December  31, 2013 unless
terminated prior to such date.

The  Registrant  is engaged in the business of operating and holding real estate
properties for investment.  In 1983 through 1985, during its acquisition  phase,
the Registrant acquired eleven existing properties.  The Registrant continues to
own and  operate  three  of  these  properties,  see  "Item  2,  Description  of
Properties", below for a description of the partnership's remaining properties.

On December 10, 1984, the Partnership  sold pursuant to Registration  Statements
filed with the Securities and Exchange  Commission  (the "SEC") 180,037 units of
limited  partnership  interest  ("Units")  at $250 each,  or gross  proceeds  of
approximately  $45,009,000 to the Partnership.  Since its initial offering,  the
Registrant  has not  received,  nor  are  limited  partners  required  to  make,
additional capital contributions.

Upon  the  Partnership's   formation  in  1983,  Consolidated  Capital  Equities
Corporation ("CCEC"), a Colorado corporation,  was the corporate general partner
and Consolidated  Capital Group ("CCG"), a California general  partnership,  was
the non-corporate  general partner.  In 1988,  through a series of transactions,
Southmark  Corporation  ("Southmark")  acquired controlling interest in CCEC. In
December  1988,  CCEC filed for  reorganization  under  Chapter 11 of the United
States  Bankruptcy  Code. In 1990, as part of CCEC's  reorganization  plan,  CEI
acquired  CCEC's general  partner  interests in the  Partnership and in 15 other
affiliated public limited  partnerships (the "Affiliated  Partnerships") and CEI
replaced CCEC as managing general partner in all 16 partnerships.  The selection
of CEI as the sole  managing  general  partner was approved by a majority of the
limited  partners in the Partnership and in each of the Affiliated  Partnerships
pursuant to a  solicitation  of the Limited  Partners  dated August 10, 1990. As
part of this  solicitation,  the Limited  Partners also approved an amendment to
the  Partnership  Agreement to limit changes of control of the  Partnership  and
approved conversion of the general partner interest of the non-corporate general
partner,  CCG, to that of a special limited partner  ("Special Limited Partner")
without  voting and without  other  rights of a limited  partner  except for the
economic interest previously held as a general partner. Pursuant to an amendment
to the Partnership Agreement,  the non-corporate general partner interest of CCG
was  converted  to that of a Special  Limited  Partner  and CEI  became the sole
general partner of the Partnership on December 31, 1991.

The Registrant  has no employees.  Management  and  administrative  services are
provided by the General Partner and by agents  retained by the General  Partner.
With respect to the  Partnership's  residential  properties  these services were
provided by affiliates of the General  Partner for the years ended  December 31,
1999 and 1998. With respect to the Partnership's sole commercial  property these
services were provided by affiliates of the General  Partner for the nine months
ended  September  30, 1998. As of October 1, 1998 the  management  services were
provided by an unaffiliated third party.

The  real  estate  business  in which  the  Partnership  is  engaged  is  highly
competitive.  There are other  residential and commercial  properties within the
market  area  of  the  Partnership'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  and  commercial  space at the  Registrant's
properties  and the rents that may be  charged  for such  apartments  and space.
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 the apartments is local.

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 the 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 and commercial  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.

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.

Transfer of Control

Pursuant  to a series  of  transactions  which  closed  on  October  1, 1998 and
February 26, 1999,  Insignia Financial Group, Inc. and Insignia Properties Trust
merged into AIMCO, a publicly traded real estate  investment  trust,  with AIMCO
being the surviving  corporation  (the "Insignia  Merger").  As a result,  AIMCO
acquired 100% ownership  interest in the General  Partner.  The General  Partner
does not believe that this transaction has had or will have a material effect on
the affairs and operations of the Partnership.

Item 2.  Description of Properties:

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

<TABLE>
<CAPTION>

                            Date of
Property                    Purchase     Type of Ownership (1)             Use
<S>                        <C>        <C>                              <C>

Aspen Ridge Apartments      08/09/84  Fee ownership subject             Apartment
 West Chicago, Illinois               to first mortgage                 253 units

Sutton Place Apartments     07/06/84  Fee ownership subject             Apartment
  Corpus Christi, Texas               to first mortgage                 201 units

51 North High Building      12/20/84  Fee ownership subject          Office Building
 Columbus, Ohio (2)                   to first mortgage               approximately
                                                                     86,000 sq. ft.

</TABLE>

(1)   All of the properties are held 100% by a Limited Partnership which in turn
      is held by a Limited Liability Company of which the Registrant is the sole
      member.

(2)   Property is currently being held for sale.

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                        Federal
Property                    Value     Depreciation    Rate    Method    Tax Basis
                               (in thousands)                         (in thousands)

<S>                       <C>          <C>          <C>         <C>      <C>
Aspen Ridge               $  9,067     $  6,433     5-19 yrs    S/L      $ 2,866
Sutton Place                 6,200        4,451     5-19 yrs    S/L        2,502
51 North High (1)            6,863        5,415     3-19 yrs    S/L        2,898

     Totals               $ 22,130     $ 16,299                          $ 8,266

(1)   Balance is included in Item 7.  Financial  Statements - Investment  in  Discontinued
      Operations."

</TABLE>

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

Schedule of Property Indebtedness

The  following  table  sets  forth  certain  information  relating  to the loans
encumbering the Registrant's properties.

                           Principal                           Principal
                          Balance At                            Balance
                         December 31,  Interest   Maturity       Due At
        Property             1999        Rate       Date      Maturity (2)
                        (in thousands)                       (in thousands)

Aspen Ridge                $ 5,750       7.33%      11/03      $ 5,750

Sutton Place                 2,716      9.125%      10/03        2,581

51 North High (1)            2,366       9.0%       06/04        1,687
                           $10,832                             $10,018

(1)  Balance  is  included  in Item 7.  Financial  Statements  -  Investment  in
Discontinued Operations.

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

Rental Rates and Occupancy:

Average  annual  rental rate and  occupancy  for 1999 and 1998 for each property
were as follows:

                                       Average Annual            Average Annual
                                        Rental Rates                Occupancy
 Property                           1999          1998         1999        1998

 Aspen Ridge                      $8,796         $8,489         94%         94%
 Sutton Place                      6,463          6,304         92%         91%
 51 North High                     14.31          14.26         98%        100%

The average  annual rental rate for 51 North High Street is per square foot. The
rate is per unit for the apartment properties, Aspen Ridge, and Sutton Place.

As noted under "Item 1.  Description of Business",  the real estate  industry is
highly  competitive.   All  of  the  Partnership's  properties  are  subject  to
competition from other retail centers and residential apartment complexes in the
area.  The General  Partner  believes that all of the  properties are adequately
insured.  Aspen Ridge and Sutton Place are apartment complexes which lease units
for lease terms of one year or less. No residential tenant leases 10% or more of
the  available  rental  space.  51 North High is an office  complex which leases
available rental space on terms ranging from one to ten years. Information as to
lease  expirations  at 51 North High and  tenants  whom lease 10% or more of the
available  rental space at 51 North High is listed below.  All of the properties
are in good physical condition subject to normal  depreciation and deterioration
as is typical for assets of this type and age.


<PAGE>



The following is a schedule of lease  expirations at 51 North High for the years
2000-2007:

<TABLE>
<CAPTION>

                      Number of                                          % of Gross
                     Expirations      Square Feet      Annual Rent      Annual Rent
                                                      (in thousands)
  51 North High
<S>                      <C>            <C>                <C>            <C>
       2000               3              12,883            $183            15.3%
       2001               4              64,114             922            76.7%
       2002               0                  --              --              --
       2003               2              2,889               52             4.3%
       2004               1              1,235               13             1.1%
    2005-2006             0                 --               --              --
       2007               1              1,733               31             2.6%

</TABLE>

The following  schedule  presents  information on tenants leasing 10% or more of
the leasable square footage for 51 North High:

<TABLE>
<CAPTION>
                                                                        Percent of
                      Square Footage   Annual Rent Per      Lease      Gross Annual
Nature of Business        Leased         Square Foot     Expiration        Rent
<S>                       <C>               <C>             <C>           <C>

Government Agency         56,772           $14.37          6/30/01         67.9%
Bank                      10,666            14.87          5/31/00         13.2%
</TABLE>

Schedule of Real Estate Taxes and Rates:

Real estate taxes and rates in 1999 for each property were as follows:

                                    1999             1999
                                   Billing           Rate
                               (in thousands)

Aspen Ridge Apartments (1)          $253             8.23%
Sutton Place Apartments              132             3.08%
51 North High Building (1)            60             5.61%

(1)   Estimate is based on 1998 billing, since 1999 bill has not been received.

Capital Improvements:

Aspen Ridge  Apartments:  The Partnership  completed  approximately  $305,000 in
capital  expenditures  at  Aspen  Ridge  Apartments  as of  December  31,  1999,
consisting primarily of appliances,  air conditioning,  light fixtures and floor
covering replacements, pool upgrades, major landscaping,  exterior painting, and
parking  lot  improvements.   These  improvements  were  funded  primarily  from
partnership  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 $75,900.
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.

Sutton Place Apartments:  The Partnership  completed  approximately  $182,000 in
capital  expenditures  at Sutton  Place  Apartments  as of  December  31,  1999,
consisting   primarily  of   appliances,   air   conditioning,   floor  covering
replacements,  pool  upgrades,  parking lot and structural  improvements.  These
improvements  were funded  primarily from partnership  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  $60,300.  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.

51 North High  Building:  The  Partnership  completed  approximately  $56,000 in
capital  expenditures  at 51  North  High  Building  as of  December  31,  1999,
consisting  primarily  of  roof  replacements  and  tenant  improvements.  These
improvements were funded primarily from operations. The Partnership is currently
evaluating the capital  improvement needs of the property for the upcoming year.
As the property is currently being held for sale improvements are anticipated to
be made only on an as needed basis to maintain  the  property in good  condition
for sale.

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. in the Superior Court of the State of California
for the County of San Mateo. The plaintiffs  named as defendants,  among others,
the   Partnership,   the  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  the  acquisition  by Insignia  Financial  Group,  Inc.
("Insignia")  and  entities  which  were,  at one time,  affiliates  of Insignia
("Insignia  Affiliates") of interests in certain general partner entities,  past
tender offers by Insignia  Affiliates to acquire limited  partnership units, the
management of partnerships  by Insignia  Affiliates and the Insignia Merger (see
"Item 7. Financial  Statements,  Note B - Transfer of Control").  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
have 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
final court approval,  on behalf of the Partnership and all limited partners who
own units as of November 3, 1999.  Preliminary  approval of the  settlement  was
obtained on November 3, 1999 from the Superior Court of the State of California,
County of San Mateo,  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  class
plaintiffs'  counsel to enter the settlement.  On December 14, 1999, the General
Partner  and  its  affiliates   terminated  the  proposed  settlement.   Certain
plaintiffs have filed a motion to disqualify some of the plaintiffs'  counsel in
the action.  The General Partner does not anticipate that costs  associated with
this case will be material to the Partnership's overall operations.

The  Partnership is unaware of any other 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, 1999, no matters were submitted to a vote
of the security holders through the solicitation of proxies or otherwise.


<PAGE>


                                     PART II

Item 5. Market for the  Registrant's  Units of Limited  Partnership  and Related
        Security Holder Matters

The Partnership,  a publicly-held limited partnership,  offered and sold 180,037
limited partnership units aggregating $45,009,000. The Partnership currently has
2,868  holders of record owning an aggregate of 179,537.2  Units.  Affiliates of
the General Partner owned 80,775.1 units or approximately 44.99% at December 31,
1999.  No public  trading  market has  developed  for the  Units,  and it is not
anticipated that such a market will develop in the future.

There  were no cash  distributions  to the  partners  during  1999 or 1998.  The
Partnership is required to maintain working capital reserves for normal repairs,
replacements,  working  capital  and  contingencies  of not less  than 5% of Net
Invested  Capital  as  defined  in  the  Partnership  Agreement.  In  the  event
expenditures are made from these reserves,  operating revenue shall be allocated
to such reserves to the extent necessary to maintain the foregoing  level.  Cash
and  cash  equivalents,   tenant  security  deposits  and  investments  totaling
approximately $1,738,000, are less than the reserve requirement of approximately
$1,760,000  at December  31, 1999.  The  Partnership  intends to  replenish  the
working capital reserve from cash flow from operations  after  consideration  of
any capital improvement needs of the properties.  The Partnership's  recent cash
flows from  operations,  however,  have not been  sufficient  to  replenish  the
reserve  and  there  is no  assurance  that  future  levels  of cash  flow  from
operations will be adequate to accomplish  this  objective.  The working capital
requirement must be met prior to any distributions to the partners.

Several tender offers were made by various parties,  including affiliates of the
General Partner,  during the years ended December 31, 1999 and 1998. As a result
of these, and prior tender offers, AIMCO and its affiliates own 80,775.1 limited
partnership units in the Partnership  representing  approximately  44.99% of the
outstanding  units. 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.  Consequently,  AIMCO is in a position to significantly  influence all
voting  decisions  with  respect  to  the  Registrant.   Under  the  Partnership
Agreement,  unitholders  holding a majority  of the Units are  entitled  to take
action with respect to a variety of matters. 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 their  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 disclosure
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 discussions 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 Registrant's net loss for the year ended December 31, 1999 was approximately
$129,000 as compared to a net loss of approximately  $131,000 for the year ended
December  31,  1998  (See  "Note  L"  of  Item  7.  Financial  Statements  for a
reconciliation of these amounts to the Registrant's federal taxable income). The
registrant's loss before discontinued operations for the year ended December 31,
1999 was  approximately  $179,000 as compared to approximately  $183,000 for the
year ended December 31, 1998. The loss before  discontinued  operations remained
relatively constant for the comparable periods.  Total revenues increased due to
an  increase in rental  income  primarily  due to an increase in average  annual
rental rates at both of the Registrant's residential properties. The increase in
rental income was partially  offset by a decrease in other income as a result of
a reduction of cash balances maintained in interest bearing accounts.

The  increase in total  revenues  was  partially  offset by an increase in total
expenses.  Total  expenses  increased  as a result of an increase in general and
administrative  expense and depreciation expense which was partially offset by a
decrease in property tax expense.  Depreciation expense increased as a result of
property  improvements and replacements placed into service during late 1998 and
1999.  Property tax expense decreased due to a refund of taxes in 1999 at Sutton
Place Apartments from 1997 property tax payments.

General and administrative  expense increased due to an increase in professional
fees.  Included  in  general  and  administrative  expense  for the years  ended
December 31, 1999 and 1998 are management  reimbursements to the General Partner
allowed under the Partnership Agreement. In addition,  costs associated with the
quarterly and annual  communications  with investors and regulatory agencies and
the annual audits and appraisals required by the Partnership  Agreement are also
included.

The Partnership's commercial property, 51 North High Street Building, located in
Columbus,  Ohio, is currently being marketed for sale to an  unaffiliated  third
party; therefore, this segment has been reported as a discontinued operation.

Effective  January 1, 1999, the Partnership  changed its method of accounting to
capitalize the cost of exterior  painting and major landscaping on a prospective
basis.  The  Partnership  believes  that  this  accounting  principle  change is
preferable  because it provides a better  matching of expenses  with the related
benefit of the expenditures and it is consistent with industry  practice and the
policies  of the  General  Partner.  The  effect  of the  change  in 1999 was to
increase  net income by  approximately  $55,000  ($0.31 per limited  partnership
unit). The cumulative effect, had this change been applied to prior periods,  is
not material.  The accounting  principle  change will not have an effect on cash
flow,  funds  available for  distribution or fees payable to the General Partner
and affiliates.

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 expenses.  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,  1999,  the  Registrant  held  cash  and cash  equivalents  of
approximately  $1,660,000,  compared to approximately $1,177,000 at December 31,
1998. The increase in cash and cash equivalents of approximately $483,000 is due
to approximately  $1,109,000 of cash provided by operating activities,  which is
partially offset by approximately  $470,000 of cash used in investing activities
and approximately  $156,000 of cash used in financing  activities.  Cash used in
investing activities consisted of property improvements and replacements and was
partially offset by the net receipts from restricted escrow accounts  maintained
by the  mortgage  lenders.  Cash  used  in  financing  activities  consisted  of
principal   payments  made  on  the  mortgages   encumbering  the   Registrant's
properties.  The Registrant invests its working capital reserves in money market
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  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 residential  properties for the
upcoming year. The minimum amount to be budgeted is expected to be $300 per unit
or $136,200.  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  $10,832,000 (of which  $2,366,000 is included in
investment  in  discontinued  operations)  matures at various times with balloon
payments due during 2003 and 2004. 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.

The  Partnership  is required to maintain  working  capital  reserves for normal
repairs, replacements,  working capital and contingencies of not less than 5% of
Net  Invested  Capital  as defined in the  Partnership  Agreement.  In the event
expenditures are made from these reserves,  operating revenue shall be allocated
to such reserves to the extent necessary to maintain the foregoing  level.  Cash
and  cash  equivalents,   tenant  security  deposits  and  investments  totaling
approximately $1,738,000, are less than the reserve requirement of approximately
$1,760,000  at December  31, 1999.  The  Partnership  intends to  replenish  the
working capital reserve from cash flow from operations  after  consideration  of
any capital improvement needs of the properties.  The Partnership's  recent cash
flows from  operations,  however,  have not been  sufficient  to  replenish  the
reserve  and  there  is no  assurance  that  future  levels  of cash  flow  from
operations will be adequate to accomplish  this  objective.  The working capital
requirement must be met prior to any distributions to the partners.

There  were  no   distributions  to  the  Partners  during  1999  and  1998.  No
distributions  are expected to be made in 2000 since the  Partnership's  working
capital reserves do not meet the 5% of Net Invested Capital requirement.

Several tender offers were made by various parties,  including affiliates of the
General Partner,  during the years ended December 31, 1999 and 1998. As a result
of these, and prior tender offers, AIMCO and its affiliates own 80,775.1 limited
partnership units in the Partnership  representing  approximately  44.99% of the
outstanding  units. 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.  Consequently,  AIMCO is in a position to significantly  influence all
voting  decisions  with  respect  to  the  Registrant.   Under  the  Partnership
Agreement,  unitholders  holding a majority  of the Units are  entitled  to take
action with respect to a variety of matters. 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 their  affiliation  with the General
Partner.

Year 2000 Compliance

General Description

The Year 2000 issue is the result of computer  programs  being written using two
digits rather than four digits to define the applicable year. The Partnership is
dependent  upon the  General  Partner  and its  affiliates  for  management  and
administrative services ("Managing Agent"). Any of the Managing Agent's computer
programs or hardware that had  date-sensitive  software or embedded  chips might
have  recognized  a date using "00" as the year 1900  rather than the year 2000.
This  could  have  resulted  in a  system  failure  or  miscalculations  causing
disruptions of operations,  including, among other things, a temporary inability
to process  transactions,  send invoices,  or engage in similar normal  business
activities.

Computer Hardware, Software and Operating Equipment

In 1999,  the Managing  Agent  completed  all phases of its Year 2000 program by
completing  the  replacement  and repair of any  hardware or software  system or
operating  equipment that was not yet Year 2000 compliant.  The Managing Agent's
hardware  and software  systems and its  operating  equipment  are now Year 2000
compliant.  No  material  failure or  erroneous  results  have  occurred  in the
Managing Agent's computer  applications  related to the failure to reference the
Year 2000 to date.

Third Parties

To  date,  the  Managing  Agent  is not  aware of any  significant  supplier  or
subcontractor  (external agent) or financial institution of the Partnership that
has a Year 2000 issue that  would  have a material  impact on the  Partnership's
results of operations,  liquidity or capital  resources.  However,  the Managing
Agent  has no means of  ensuring  or  determining  the Year 2000  compliance  of
external  agents.  At this time, the Managing Agent does not believe that a Year
2000 issue of any  non-compliant  external agent will have a material  impact on
the Partnership's financial position or results of operations.


<PAGE>



Costs

The total cost of the Managing Agent's Year 2000 project was approximately  $3.2
million and was funded from operating cash flows.

Risks Associated with the Year 2000

The Managing  Agent  completed all necessary  phases of its Year 2000 program in
1999,  and did not  experience  system or  equipment  malfunctions  related to a
failure to reference the Year 2000. The Managing  Agent or Partnership  have not
been  materially  adversely  effected by  disruptions  in the economy  generally
resulting from the Year 2000 issue.

At this  time,  the  Managing  Agent  does not  believe  that the  Partnership's
businesses,  results of  operations  or financial  condition  will be materially
adversely effected by the Year 2000 issue.

Contingency Plans Associated with the Year 2000

The  Managing  Agent has not had to implement  contingency  plans such as manual
workarounds or selecting new relationships for its banking or elevator operation
activities in order to avoid the Year 2000 issue.


<PAGE>


Item 7.  Financial Statements

CONSOLIDATED CAPITAL PROPERTIES V

LIST OF FINANCIAL STATEMENTS

      Report of Ernst & Young, LLP, Independent Auditors

      Consolidated Balance Sheet - December 31, 1999

      Consolidated Statements of Operations - Years ended December 31, 1999 and
      1998

      Consolidated  Statements  of Changes in  Partners'  Deficit - Years  ended
      December 31, 1999 and 1998

      Consolidated Statements of Cash Flows - Years ended December 31, 1999 and
      1998

      Notes to Consolidated Financial Statements


<PAGE>


                    Report of Ernst & Young LLP, Independent Auditors

The Partners

Consolidated Capital Properties V

We have audited the  accompanying  consolidated  balance  sheet of  Consolidated
Capital  Properties  V as of December  31,  1999,  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,  1999.  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  Consolidated
Capital  Properties V at December 31, 1999, and the consolidated  results of its
operations  and its cash  flows  for each of the two years in the  period  ended
December 31, 1999, in conformity with accounting  principles  generally accepted
in the United States.

As discussed in Note M to the financial statements,  the Partnership changed its
method of  accounting  to  capitalize  the cost of exterior  painting  and major
landscaping effective January 1, 1999.

                                                           /s/ ERNST & YOUNG LLP


Greenville, South Carolina
February 24, 2000


<PAGE>



<TABLE>
<CAPTION>


                        CONSOLIDATED CAPITAL PROPERTIES V

                           CONSOLIDATED BALANCE SHEET

                        (in thousands, except unit data)

                                December 31, 1999

Assets
<S>                                                            <C>        <C>

   Cash and cash equivalents                                              $  1,660
   Receivables and deposits                                                    331
   Restricted escrows                                                          109
   Other assets                                                                162
   Investment properties (Notes G and I):
      Land                                                 $  1,443
      Buildings and personal property                        13,824
                                                             15,267

      Less accumulated depreciation                         (10,884)         4,383
                                                                          $  6,645

Liabilities and Partners' Deficit
Liabilities

   Accounts payable                                                       $     87
   Tenant security deposit liabilities                                          72
   Accrued property taxes                                                      398
   Other liabilities                                                           167
   Mortgage notes payable (Note G)                                           8,466
   Investment in discontinued operations (Note C)                              889

Partners' Deficit

   General partner                                         $      (21)
   Special limited partners                                       (48)
   Limited partners (179,537.20 units
      issued and outstanding)                                  (3,365)      (3,434)
                                                                          $  6,645

          See Accompanying Notes to Consolidated Financial Statements
</TABLE>



                        CONSOLIDATED CAPITAL PROPERTIES V

                      CONSOLIDATED STATEMENTS OF OPERATIONS

                        (in thousands, except unit data)

<TABLE>
<CAPTION>

                                                            Years Ended December 31,
                                                              1999         1998
Revenues:                                                               (restated)
<S>                                                         <C>          <C>

   Rental income                                             $3,121       $3,056
   Other income                                                 162          174
      Total revenues                                          3,283        3,230

Expenses:
   Operating                                                  1,344        1,345
   General and administrative                                   234          199
   Depreciation                                                 808          770
   Interest                                                     705          707
   Property taxes                                               371          392

      Total expenses                                          3,462        3,413

Loss before discontinued operations                            (179)        (183)

Income from discontinued operations                              50           52

Net loss                                                     $ (129)      $ (131)

Net loss allocated to general partner (.2%)                      --           --
Net loss allocated to limited partners (99.8%)               $ (129)      $ (131)
                                                             $ (129)      $ (131)
Net (loss) income per limited partnership unit:

 Loss before discontinued operations                         $(1.00)      $(1.02)
 Income from discontinued operations                            .28          .29
                                                             $ (.72)      $ (.73)

          See Accompanying Notes to Consolidated Financial Statements
</TABLE>

<PAGE>


                        CONSOLIDATED CAPITAL PROPERTIES V

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

<TABLE>
<CAPTION>


                                  Limited                 Special
                                Partnership    General    Limited    Limited
                                   Units       Partner   Partners   Partners    Total
<S>                                  <C>        <C>     <C>        <C>        <C>

Original capital
    contributions                  180,037    $     1   $    --     $45,009   $45,010

Partners' deficit
   at December 31, 1997         179,537.20    $   (21)  $   (52)    $(3,101)  $(3,174)

Amortization of timing
    differences                         --         --         2          (2)       --

Net loss for the year ended
   December 31, 1998                    --         --        --        (131)     (131)

Partners' deficit at
   December 31, 1998            179,537.20        (21)      (50)     (3,234)   (3,305)

Amortization of timing
   difference (Note F)                  --         --         2          (2)       --

Net loss for the year
   ended December 31, 1999              --         --        --        (129)     (129)

Partners' deficit
   at December 31, 1999         179,537.20    $   (21)  $   (48)    $(3,365)  $(3,434)

          See Accompanying Notes to Consolidated Financial Statements

</TABLE>

<TABLE>
<CAPTION>


                        CONSOLIDATED CAPITAL PROPERTIES V

                      CONSOLIDATED STATEMENTS OF CASH FLOWS

                                      (in thousands)
                                                              Year Ended December 31,
                                                                  1999        1998
Cash flows from operating activities:
<S>                                                              <C>         <C>

  Net loss                                                       $ (129)     $ (131)
  Adjustments to reconcile net loss to net
   cash provided by operating activities:
   Depreciation                                                   1,126       1,116
   Amortization of lease commissions, discounts,
     loan costs and debt forgiveness                                 78          (6)
   Change in accounts:
      Receivables and deposits                                       12           60
      Other assets                                                  (82)           4
      Accounts payable                                               35         (102)
      Tenant security deposit liabilities                            21           (8)
      Accrued property taxes                                          1           (5)
      Other liabilities                                              47          (18)

      Net cash provided by operating activities                   1,109          910

Cash flows from investing activities:

  Property improvements and replacements                           (543)        (594)
  Net receipts from restricted escrows                               73          265
  Proceeds from sale of investments                                  --          100

       Net cash used in investing activities                       (470)        (229)

Cash flows from financing activities:

  Payments on mortgage notes payable                               (156)         (78)

Net increase in cash and cash equivalents                           483          603

Cash and cash equivalents at beginning of period                  1,177          574

Cash and cash equivalents at end of period                      $ 1,660      $ 1,177

Supplemental disclosure of cash flow information:

  Cash paid for interest                                         $ 777        $ 776

</TABLE>


          See Accompanying Notes to Consolidated Financial Statements
<PAGE>




                        CONSOLIDATED CAPITAL PROPERTIES V

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

                                December 31, 1999

Note A - Organization and Summary of Significant Accounting Policies

Organization:   Consolidated   Capital   Properties  V  (the   "Partnership"  or
"Registrant") was organized on June 30, 1983, as a limited partnership under the
California Uniform Limited  Partnership Act. The general partner responsible for
management of the  Partnership's  business is ConCap Equities,  Inc., a Delaware
corporation  (the  "General  Partner"  or  "CEI").  The  General  Partner  is  a
subsidiary of Apartment Investment and Management Company ("AIMCO"). See "Note B
- Transfer of Control".  The directors 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, 2013 unless  terminated prior to
such date.  The  Partnership  commenced  operations  on December 15,  1983,  and
completed its  acquisition of commercial and apartment  properties  during 1985.
The  Partnership  currently  operates  two  apartment  complexes  and one office
complex.

At the  time  of the  Partnership's  formation  in  1983,  Consolidated  Capital
Equities Corporation ("CCEC"), a Colorado corporation, was the corporate general
partner  and   Consolidated   Capital  Group  ("CCG"),   a  California   general
partnership, was the non-corporate general partner. In December 1988, CCEC filed
for  reorganization  under Chapter 11 of the United States  Bankruptcy  Code. As
part of its reorganization  plan, ConCap Equities,  Inc., (the "General Partner"
or "CEI") acquired CCEC's general partner interests in the Partnership and in 15
other affiliated public limited partnerships (the "Affiliated Partnerships") and
CEI replaced CCEC as managing general partner in all 16 partnerships. As part of
the solicitation  for approval of CEI as general  partner,  the limited partners
also approved the conversion of CCG from a general  partner to a special limited
partner, thereby leaving CEI as the sole general partner of the Partnership.

The principal  place of business for the Partnership and for the General Partner
is 55 Beattie Place, Greenville, South Carolina.

Principles of Consolidation: The Partnership's consolidated financial statements
include  the  accounts  of the  Partnership  and  its  99%  limited  partnership
interests in the lower tier limited  partnerships Aspen Ridge Associates,  Ltd.,
Sutton Place CCPV,  L.P. and 51 North High Street,  L.P. The General  Partner of
these lower tier limited  partnerships are limited liability  companies of which
the Partnership is the sole member. Accordingly all entities are consolidated by
the Partnership. All significant interpartnership balances have been eliminated.

Allocation of Cash and Distributions:  Cash distributions by the Partnership are
allocated between general and limited partners in accordance with the provisions
of  the  Partnership   Agreement.   The  Partnership   Agreement  provides  that
distributable  cash from operations shall mean revenues  received less operating
expenses paid,  adjusted for certain  specified  items which  primarily  include
mortgage payments of debt, property improvements and replacements not previously
reserved,  and the effects of other  adjustments to reserves  including  reserve
amounts  deemed  necessary  by the  General  Partner.  Distributions  made  from
reserves no longer considered necessary by the General Partner are considered to
be additional net cash from operations for allocation purposes.

The Partnership  Agreement provides that 99.8% of distributions of net cash from
operations  are  allocated  to the  limited  partners,  and  .2% to the  general
partner. The General Partner is also entitled to a Special Management Allocation
which is equal to 9% of operating distributions.

All  distributions of distributable  net proceeds (as defined in the Partnership
Agreement) from property  dispositions and refinancings will be allocated to the
limited  partners  until each limited  partner has received an amount equal to a
cumulative  12% per  annum of the  average  of the  limited  partners'  adjusted
capital  value,  less any prior  distributions  of net cash from  operations and
distributable net proceeds, and has also received an amount equal to the limited
partners' adjusted capital value. Thereafter,  the limited partners will receive
86% and the  general  partner  will  receive  14%  (allocated  to Special LP and
General Partner).

Distributions  may be  restricted  by the  requirement  to deposit net operating
income into the Reserve Account.  The Partnership  Agreement  specifies that the
Partnership shall maintain reasonable reserves for normal repairs, replacements,
working capital and  contingencies in an amount equal to at least 5% of Invested
Capital.  (Surplus  funds  from  the  sale of  Partnership  properties  shall be
deducted from Capital  Contributions  in determining  Invested  Capital.) In the
event  expenditures  are made from these reserves,  operating  revenues shall be
allocated to such reserves to the extent  necessary to maintain the 5% level. No
distributions  were made  during  1999 or 1998 since the  Partnership's  working
capital reserves did not meet the 5% of Net Invested Capital requirement.

Allocation  of  Profits,  Gains and  Losses:  Profits,  gains and  losses of the
Partnership  are allocated  between  general and limited  partners in accordance
with the provisions of the Partnership Agreement.

Net profits and net losses shall be allocated 99.8% to the limited partners, and
 .2% to the General Partner.

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 Financial  Accounting  Standards Board Statement 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 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, 1999 or 1998.  At December 31, 1999 the  Partnership's
sole  commercial  property  was  being  marketed  for  sale and is  included  in
Investment in Discontinued Operations (see Note C).

Depreciation:  Depreciation  is  provided by the  straight-line  method over the
estimated lives of the Partnership's  properties and related personal  property.
For Federal income tax purposes,  the  accelerated  cost recovery method is used
(1) for real property  over 15 years for  additions  prior to March 16, 1984, 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,  and (2) for
personal  property  over 5 years for  additions  prior to 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.

Effective  January 1, 1999, the Partnership  changed its method of accounting to
capitalize the cost of exterior painting and major landscaping (see Note M).

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

Restricted  Escrows:  Aspen Ridge and Sutton  Place  Apartments  hold repair and
maintenance  escrows of  approximately  $23,000 and  $86,000,  respectively,  at
December  31,  1999,  which were  established  as part of the  properties'  1996
refinancings. These escrows are included in restricted escrows.

Cash and Cash  Equivalents:  Includes  cash on hand,  in banks and money  market
accounts.  At certain  times,  the amount of cash deposited at a bank may exceed
the limit on insured deposits.

Fair Value of Financial Instruments: Statement of Financial Accounting Standards
("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 value.

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.  Commercial
office  property  leases vary from one to ten years.  For leases with  scheduled
rental increases,  rental income is recognized on a straight-line basis over the
life of the applicable leases.

Loan Costs: Loan costs of approximately $238,000, less accumulated  amortization
of  approximately  $108,000 are included in other assets and are being amortized
on a straight-line basis over the lives of the loans.

Lease Commissions:  Lease commissions of approximately $227,000 less accumulated
amortization   of   approximately   $171,000  are  included  in   investment  in
discontinued  operations and are being  amortized using the straight line method
over the term of the applicable lease.

Advertising  Costs:  Advertising  costs  of  approximately  $92,000  in 1999 and
$94,000 in 1998 are charged to expense as incurred and are included in operating
expenses and income from discontinued operations.

Use of Estimates:  The  preparation of financial  statements in conformity  with
generally accepted  accounting  principles 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.

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. See "Note J" for required disclosure.

Reclassification:   Certain   reclassifications  have  been  made  to  the  1998
information to conform to the 1999 presentation.

Note B - Transfer of Control

Pursuant  to a series  of  transactions  which  closed  on  October  1, 1998 and
February 26, 1999,  Insignia Financial Group, Inc. and Insignia Properties Trust
merged into AIMCO, a publicly traded real estate  investment  trust,  with AIMCO
being the surviving  corporation  (the "Insignia  Merger").  As a result,  AIMCO
acquired 100% ownership  interest in the General  Partner.  The General  Partner
does not believe that this transaction has had or will have a material effect on
the affairs and operations of the Partnership.

Note C - Investment in Discontinued Operations

The Partnership's commercial property, 51 North High Street Building, located in
Columbus,  Ohio, is currently being marketed for sale to an  unaffiliated  third
party;  therefore,  this segment has been reported as a discontinued  operation.
Revenues of this property were  approximately  $1,204,000 and $1,228,000 for the
years ended December 31, 1999 and 1998,  respectively.  Income from discontinued
operations  was  approximately  $50,000 and $52,000 for the years ended December
31, 1999 and 1998, respectively.  The results of operations of the property have
been  classified as "Income from  discontinued  operations"  for the years ended
December  31,  1999 and 1998.  The  remaining  net  liabilities,  which  include
receivables, deposits, fixed assets, accrued liabilities, and mortgage debt, are
classified as "Investment in discontinued operations" at December 31, 1999.

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.

During the years ended  December  31, 1999 and 1998,  affiliates  of the General
Partner  were  entitled  to  receive  5% of  gross  receipts  from  both  of the
Registrant's  residential properties for providing property management services.
The Registrant paid to such affiliates $169,000 and $162,000 for the years ended
December 31, 1999 and 1998,  respectively.  For the nine months ended  September
30, 1998  affiliates  of the General  Partner were  entitled to receive  varying
percentages  of gross  receipts from the  Registrant's  commercial  property for
providing property management  services.  The Registrant paid to such affiliates
$51,000 for the nine months ended September 30, 1998.

The Partnership Agreement also provides for reimbursement to the General Partner
and its affiliates for costs incurred in connection with the  administration  of
Partnership   activities.   An  affiliate  of  the  General   Partner   received
reimbursement of accountable  administrative expenses amounting to approximately
$95,000  and  $124,000  for  the  years  ended   December  31,  1999  and  1998,
respectively.

During  the year  ended  December  31,  1998,  the  Partnership  paid  $6,000 to
affiliates of the General  Partner for lease  commissions  on the  Partnership's
commercial  property.  No such costs were paid to affiliates  for the year ended
December  31,  1999.  These lease  commissions  are  included in  investment  in
discontinued operations and amortized over the terms of the respective leases.

Several tender offers were made by various parties,  including affiliates of the
General Partner,  during the years ended December 31, 1999 and 1998. As a result
of these, and prior tender offers, AIMCO and its affiliates own 80,775.1 limited
partnership units in the Partnership  representing  approximately  44.99% of the
outstanding  units. 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.  Consequently,  AIMCO is in a position to significantly  influence all
voting  decisions  with  respect  to  the  Registrant.   Under  the  Partnership
Agreement,  unitholders  holding a majority  of the Units are  entitled  to take
action with respect to a variety of matters. 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 their  affiliation  with the General
Partner.


<PAGE>


Note E - Commitment

The  Partnership  is required to maintain  working  capital  reserves for normal
repairs, replacements,  working capital and contingencies of not less than 5% of
Net  Invested  Capital  as defined in the  Partnership  Agreement.  In the event
expenditures are made from these reserves,  operating revenue shall be allocated
to such reserves to the extent necessary to maintain the foregoing  level.  Cash
and  cash  equivalents,   tenant  security  deposits  and  investments  totaling
approximately  $1,738,000 are less than the reserve requirement of approximately
$1,760,000  at December  31, 1999.  The  Partnership  intends to  replenish  the
working capital reserve from cash flow from operations  after  consideration  of
any capital improvement needs of the properties.  The Partnership's  recent cash
flows from  operations,  however,  have not been  sufficient  to  replenish  the
reserve  and  there  is no  assurance  that  future  levels  of cash  flow  from
operations will be adequate to accomplish  this  objective.  The working capital
requirement must be met prior to any  distributions to the partners;  therefore,
no distributions were made in 1999 or 1998.

Note F - Change in Status of Non-Corporate General Partner

In the year ended  December 31, 1991, the  Partnership  Agreement was amended to
convert the General Partner interests held by the non-corporate General Partner,
Consolidated  Capital  Group  ("CCG"),  to  that  of  special  limited  partners
("Special  Limited  Partners").  The Special Limited Partners do not have a vote
and do not have any of the other rights of a Limited Partner except the right to
inspect the  Partnership's  books and  records;  however,  the  Special  Limited
Partners  will  retain  the  economic  interest  in  the  Partnership  which  it
previously  owned as general partner.  ConCap Equities,  Inc. ("CEI") became the
sole  general  partner  of the  Partnership  effective  December  31,  1991.  In
connection with CCG's conversion,  a special allocation of gross income was made
to the Special  Limited  Partners in order to eliminate their tax basis negative
capital accounts.

After the  conversion,  the various  owners of interests in the Special  Limited
Partners  transferred portions of their interests to CEI so that CEI now holds a
 .2%  interest  in all  allocable  items of income,  loss and  distribution.  The
difference  between the Special Limited Partner's capital accounts for financial
statement and tax reporting purposes is being amortized as the components of the
timing differences which created the balance reverse.


<PAGE>



Note G - Mortgage Notes Payable

The principle terms of mortgage notes payable are as follows:

<TABLE>
<CAPTION>

                       Principal      Monthly                           Principal
                      Balance At      Payment      Stated                Balance
                     December 31,    Including    Interest  Maturity      Due At
      Property           1999        Interest       Rate      Date       Maturity
                           (in thousands)                             (in thousands)

<S>                    <C>              <C>          <C>       <C>        <C>

Aspen Ridge            $ 5,750         $  35         7.33%     11/03      $ 5,750

Sutton Place             2,716            23        9.125%     10/03        2,581

51 North High (1)        2,366            19         9.0%      06/04        1,687
                       $10,832         $  77                              $10,018

</TABLE>

(1)   Balance is included in Investment in Discontinued Operations.

Scheduled maturities of principal are as follows (in thousands):

                   Years Ending December 31,
                             2000                $ 173
                             2001                  182
                             2002                  191
                             2003                8,521
                             2004                1,765
                                               $10,832

The mortgage  notes  payable are  non-recourse  and are secured by pledge of the
respective   Partnership's  properties  and  by  pledge  of  revenues  from  the
properties.  Prepayment  penalties  are  required if repaid  prior to  maturity.
Further, the properties may not be sold subject to existing indebtedness.

Note H - Operating Leases

Tenants of 51 North High are responsible for their own utilities and maintenance
of  their  space  and  payment  of their  proportionate  share  of  common  area
maintenance,  utilities,  insurance and real estate taxes. A portion of the real
estate taxes, insurance,  and common area maintenance expenses are paid directly
by the Partnership.  The Partnership is then reimbursed by the tenants for their
proportionate share.

The future minimum rental  payments to be received under  operating  leases that
have initial or remaining noncancellable lease terms in excess of one year as of
December 31, 1999, are as follows (in thousands):

                   Years Ending December 31,
                             2000               $ 1,109
                             2001                   553
                             2002                    99
                             2003                    61
                             2004                    41
                          Thereafter                 62
                                                $ 1,925

Note I - 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>

Aspen Ridge              $ 5,750         $  593         $ 6,383           $ 2,091
Sutton Place               2,716            905           4,091             1,204
51 North High (1)          2,366            561           5,157             1,145

  Totals                 $10,832         $2,059         $15,631           $ 4,440

</TABLE>


<TABLE>
<CAPTION>
                           Gross Amount At Which
                                  Carried
                           At December 31, 1999
                              (in thousands)

                                 Buildings
                                   And
                                  Related
                                 Personal              Accumulated      Date     Depreciable
      Description        Land    Property    Total    Depreciation    Acquired   Life-Years
<S>                     <C>      <C>         <C>        <C>          <C>           <C>

   Aspen Ridge          $  593   $ 8,474    $ 9,067     $ 6,433       08/09/84      5-19
   Sutton Place            850     5,350      6,200       4,451       07/06/84      5-19
   51 North High (1)       526     6,337      6,863       5,415       12/20/84      3-19

     Totals             $1,969   $20,161    $22,130     $16,299

</TABLE>

(1) Balance is included in Investment in Discontinued Operations on Consolidated
Balance Sheet.

Reconciliation  of  "Investment  Properties  and  Accumulated  Depreciation":(in
thousands)

                                                Years Ended December 31,
                                                  1999            1998

Investment Properties

Balance at beginning of year                   $21,587          $20,993
    Property improvements                          543              594
    Investment in discontinued operations       (6,863)              --

Balance at end of year                         $15,267          $21,587

Accumulated Depreciation

Balance at beginning of year                   $15,173          $14,057
    Additions charged to expense                 1,126            1,116
    Investment in discontinued operations       (5,415)              --

Balance at end of year                         $10,884          $15,173

The  aggregate  cost of the real  estate  for  Federal  income tax  purposes  at
December  31,  1999 and 1998,  is  approximately  $24,350,000  and  $23,806,000,
respectively. The accumulated depreciation taken for Federal income tax purposes
at December 31, 1999 and 1998, is  approximately  $16,084,000  and  $15,101,000,
respectively.

Note J - Segment Reporting

Description  of the types of products  and  services  from which the  reportable
segment derives its revenues:

The  Partnership  has  two  reportable  segments:   residential  properties  and
commercial properties.  The Partnership's  residential property segment consists
of two apartment complexes located in West Chicago, Illinois and Corpus Christi,
Texas.  The  Partnership  rents  apartment  units to tenants  for terms that are
typically twelve months or less. The commercial  property segment consists of an
office  building  located in Columbus,  Ohio.  This  property  leases space to a
government agency, a bank, and various other businesses at terms ranging from 12
months to 10 years. The General Partner is currently marketing this property for
sale and as such this segment has been reported as a discontinued operation.

Measurement of segment profit or loss:

The  Partnership  evaluates  performance  based on segment  profit (loss) before
depreciation. The accounting policies of the reportable segments are the same as
those described in the summary of significant accounting policies.

Factors management used to identify the enterprise's reportable segment:

The  Partnership's  reportable  segments  consist of investment  properties that
offer different products and services.  The reportable segments are each managed
separately  because they  provide  distinct  services  with  different  types of
products and customers.

Segment  information  for the years 1999 and 1998 is shown in the tables  below.
The "Other" column includes partnership  administration related items and income
and expense not allocated to the reportable segment.

<TABLE>
<CAPTION>

                 1999                   Residential   Commercial    Other       Totals
                                                    (discontinued)
                                                    (in thousands)
<S>                                        <C>         <C>            <C>      <C>

Rental income                             $ 3,121        $ --        $ --      $ 3,121
Other income                                  130          --           32         162
Interest expense                              705          --           --         705
Depreciation                                  808          --           --         808
General and administrative expense             --          --          234         234
Income from discontinued operations            --          50           --          50
Segment profit (loss)                          23          50         (202)       (129)
Total assets                                5,621         202          822       6,645
Capital expenditures for investment
  properties                                  487          56           --         543
</TABLE>

<TABLE>
<CAPTION>

                 1998                    Residential   Commercial    Other       Totals
                                                    (discontinued)
                                                     (in thousands)

<S>                                        <C>           <C>          <C>       <C>

Rental income                              $ 3,056        $ --        $ --      $ 3,056
Other income                                   142           --          32         174
Interest expense                               707           --          --         707
Depreciation                                   770           --          --         770
General and administrative expense              --           --         199         199
Income from discontinued operations            --            52          --          52
Segment profit (loss)                         (16)           52        (167)       (131)
Total assets                                5,760         1,929         706       8,395
Capital expenditures for investment
  properties                                  507            87          --         594

</TABLE>

Revenues from one tenant of the Partnership's commercial segment represents more
than 10% of the Partnership's consolidated revenues.

                                  1999                             1998
                          Amount         Percent          Amount         Percent
                      (in thousands)                  (in thousands)

Government Agency          $773            17%             $792             19%


<PAGE>



Note K - 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. in the Superior Court of the State of California
for the County of San Mateo. The plaintiffs  named as defendants,  among others,
the   Partnership,   the  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  the  acquisition  by Insignia  Financial  Group,  Inc.
("Insignia")  and  entities  which  were,  at one time,  affiliates  of Insignia
("Insignia  Affiliates") of interests in certain general partner entities,  past
tender offers by Insignia  Affiliates to acquire limited  partnership units, the
management of partnerships  by Insignia  Affiliates and the Insignia Merger (see
"Note B - Transfer  of  Control").  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  have  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 final court approval, on
behalf of the Partnership and all limited  partners who own units as of November
3, 1999. Preliminary approval of the settlement was obtained on November 3, 1999
from the  Superior  Court of the State of  California,  County of San Mateo,  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 class  plaintiffs'  counsel  to  enter  the
settlement.  On  December  14,  1999,  the General  Partner  and its  affiliates
terminated the proposed  settlement.  Certain  plaintiffs have filed a motion to
disqualify  some of the plaintiffs'  counsel in the action.  The General Partner
does not anticipate that costs associated with this case will be material to the
Partnership's overall operations.

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

Note L - 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 consolidated 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 loss and Federal  taxable
income (in thousands, except unit data):

                                             For the Years Ended December 31,
                                                  1999              1998

Net loss as reported                             $(129)           $(131)
Add (deduct)
     Depreciation differences                      138              149
     Unearned income                                 3              (19)
     Other                                           6               --
     Accruals and prepaids                          18               11

Federal taxable income                           $  36            $  10

Federal taxable income
 per limited partnership unit                    $ .20            $ .06

The following is a reconciliation at December 31, 1999 between the Partnership's
reported  amounts  and  Federal  tax basis of net  assets  and  liabilities  (in
thousands):

            Net liabilities as reported             $(3,434)
            Land and buildings                        2,220
            Accumulated depreciation                    215
            Syndication and distribution costs        4,935
            Other                                      (365)
            Net assets - Federal tax basis          $ 3,571


Note M - Change in Accounting Principle

Effective  January 1, 1999, the Partnership  changed its method of accounting to
capitalize the cost of exterior  painting and major landscaping on a prospective
basis.  The  Partnership  believes  that  this  accounting  principle  change is
preferable  because it provides a better  matching of expenses  with the related
benefit of the expenditures and it is consistent with industry  practice and the
policies  of the  General  Partner.  The  effect  of the  change  in 1999 was to
increase  net income by  approximately  $55,000  ($0.31 per limited  partnership
unit). The cumulative effect, had this change been applied to prior periods,  is
not material.  The accounting  principle  change will not have an effect on cash
flow,  funds  available for  distribution or fees payable to the General Partner
and affiliates.


<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  General  Partner  of the
Registrant is ConCap  Equities Inc.  ("CEI").  The names and ages of, as well as
the position and offices held by, the present  executive  officers and directors
of the General  Partner are set forth below.  There are no family  relationships
between or among any officers or directors.

Name                        Age    Position

Patrick J. Foye              42    Executive Vice President and Director
Martha L. Long               40    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 and AIMCO since October 1998, as a result of the acquisition of Insignia
Financial Group,  Inc. 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.

Based solely upon a review of Forms 3 and 4 and amendments  thereto furnished to
the Registrant  under Rule 16a-3(e) during the  Registrant's  most recent fiscal
year and Form 5 and amendments  thereto furnished to the Registrant with respect
to its most recent  fiscal year,  the  Registrant  is not aware of any director,
officer,  beneficial  owner of more than ten  percent  of the  units of  limited
partnership interest in the Registrant that failed to file on a timely basis, as
disclosed in the above Forms,  reports required by section 16(a) of the Exchange
Act during the most recent  fiscal year or prior fiscal years except as follows:
AIMCO Properties,  L.P. and its joint filers failed to timely file a Form 3 with
respect to its  acquisition  of Units and AIMCO and its joint  filers  failed to
timely file a Form 4 with respect to its acquisition of Units.

Item 10. Executive Compensation

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


<PAGE>



Item 11. Security Ownership of Certain Beneficial Owners and Management

Security Ownership of Certain Beneficial Owners

Except as provided below, as of December 31, 1999, no person or entity was known
to CEI to own of record or  beneficially  more than five percent of the Units of
the Partnership.

Name and Address                             Number            Percent
                                            of Units          of Total

Insignia Properties, LP

(an affiliate of AIMCO)                      2,980.0            1.67%
Madison River Properties
(an affiliate of AIMCO)                     43,795.8           24.39%
AIMCO Properties, LP
(an affiliate of AIMCO)                     22,824.3           12.71%
Cooper River Properties
(an affiliate of AIMCO)                     11,175.0            6.22%

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

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

No director or officer of the General Partner owns any Units.


<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.

During the years ended  December  31, 1999 and 1998,  affiliates  of the General
Partner  were  entitled  to  receive  5% of  gross  receipts  from  both  of the
Registrant's  residential properties for providing property management services.
The Registrant paid to such affiliates $169,000 and $162,000 for the years ended
December 31, 1999 and 1998,  respectively.  For the nine months ended  September
30, 1998  affiliates  of the General  Partner were  entitled to receive  varying
percentages  of gross  receipts from the  Registrant's  commercial  property for
providing property management  services.  The Registrant paid to such affiliates
$51,000 for the nine months ended September 30, 1998.

The Partnership Agreement also provides for reimbursement to the General Partner
and its affiliates for costs incurred in connection with the  administration  of
Partnership   activities.   An  affiliate  of  the  General   Partner   received
reimbursement of accountable  administrative expenses amounting to approximately
$95,000  and  $124,000  for  the  years  ended   December  31,  1999  and  1998,
respectively.

During  the year  ended  December  31,  1998,  the  Partnership  paid  $6,000 to
affiliates of the General  Partner for lease  commissions  on the  Partnership's
commercial  property.  No such costs were paid to affiliates  for the year ended
December 31, 1999.

Several tender offers were made by various parties,  including affiliates of the
General Partner,  during the years ended December 31, 1999 and 1998. As a result
of these, and prior tender offers, AIMCO and its affiliates own 80,775.1 limited
partnership units in the Partnership  representing  approximately  44.99% of the
outstanding  units. 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.  Consequently,  AIMCO is in a position to significantly  influence all
voting  decisions  with  respect  to  the  Registrant.   Under  the  Partnership
Agreement,  unitholders  holding a majority  of the Units are  entitled  to take
action with respect to a variety of matters. 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 their  affiliation  with the General
Partner.


<PAGE>




                                     PART IV

Item 13. Exhibits, Financial Statements, Schedules and Reports on Form 8-K

         (a)   Exhibits:

               Exhibit 18,  Independent  Accountants'  Preferability  Letter for
               Change in  Accounting  Principle,  is filed as an exhibit to this
               report.

               Exhibit 27,  Financial Data  Schedule,  is filed as an exhibit to
this report.

         (b)  Reports on Form 8-K filed  during the fourth  quarter of  calendar
year 1999:

               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.

                                 CONSOLIDATED CAPITAL PROPERTIES V



                                     By: CONCAP EQUITIES, INC.
                                         General Partner

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

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

                              Date: March 29, 2000

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 29, 2000
Patrick J. Foye           and Director


/s/Martha L. Long         Senior Vice President and   Date: March 29, 2000
Martha L. Long            and Controller


<PAGE>


                        CONSOLIDATED CAPITAL PROPERTIES V

                                  EXHIBIT INDEX

Exhibit Number    Description of Exhibit

2.1  Agreement  and Plan of Merger,  dated as of October 1, 1999, by and between
     AIMCO and IPT.

3    Certificate of Limited Partnership, as amended to date.

10.1 Property  Management  Agreement  No. 109 dated  October  23,  1990,  by and
     between  the  Partnership  and  CCEC  (Incorporated  by  reference  to  the
     Quarterly Report on Form 10-Q for the quarter ended September 30, 1990).

10.2 Property  Management  Agreement  No. 308 dated  October  23,  1990,  by and
     between  the  Partnership  and  CCEC  (Incorporated  by  reference  to  the
     Quarterly Report on Form 10-Q for the quarter ended September 30, 1990).

10.3 Property  Management  Agreement  No. 406 dated  October  23,  1990,  by and
     between  the  Partnership  and  CCEC  (Incorporated  by  reference  to  the
     Quarterly Report on Form 10-Q for the quarter ended September 30, 1990).

10.4 Bill of Sale and Assignment dated October 23, 1990, by and between CCEC and
     ConCap Services Company  (Incorporated by reference to the Quarterly Report
     on Form 10-Q for the quarter ended September 30, 1990).

10.5 Assignment and Assumption  Agreement dated October 23, 1990, by and between
     CCEC and ConCap Management Limited Partnership  ("CCMLP")  (Incorporated by
     reference  to the  Quarterly  Report  on Form  10-Q for the  quarter  ended
     September 30, 1990).

10.6 Assignment and Agreement as to Certain Property  Management  Services dated
     October  23,  1990,  by  and  between  CCMLP  and  ConCap  Capital  Company
     (Incorporated  by  reference to the  Quarterly  Report on Form 10-Q for the
     quarter ended September 30, 1990).

10.7 Assignment and Assumption  Agreement dated October 23, 1990, by and between
     CCMLP and The Hayman Company (100 Series of Property Management  Contracts)
     (Incorporated  by  reference to the  Quarterly  Report on Form 10-Q for the
     quarter ended September 30, 1990).

10.8 Assignment and Assumption  Agreement dated October 23, 1990, by and between
     CCMLP and Metro ConCap, Inc. (300 Series of Property Management  Contracts)
     (Incorporated  by  reference to the  Quarterly  Report on Form 10-Q for the
     quarter ended September 30, 1990).

10.9 Assignment and Assumption  Agreement dated October 23, 1990, by and between
     CCMLP and R&B Realty  Group (400 Series of Property  Management  Contracts)
     (Incorporated  by  reference to the  Quarterly  Report on Form 10-Q for the
     quarter ended September 30, 1990).

10.10Construction  Management  Cost  Reimbursement  Agreement  dated  January 1,
     1991, by and between the Partnership and Metro ConCap,  Inc.  (Incorporated
     by reference to the Annual Report on Form 10-K for the year ended  December
     31, 1991).

10.11Construction  Management  Cost  Reimbursement  Agreement  dated  January 1,
     1991, by and between the Partnership  and The Hayman Company  (Incorporated
     by reference to the Annual Report on Form 10-K for the year ended  December
     31, 1991).

10.12Construction  Management  Cost  Reimbursement  Agreement  dated  January 1,
     1991, by and between the Partnership and R&B Apartment  Management Company,
     Inc.  (Incorporated  by reference to the Annual Report on Form 10-K for the
     year ended December 31, 1991).

10.13Investor  Services  Agreement  dated  October 23, 1990,  by and between the
     Partnership and CCEC  (Incorporated by reference to the Quarterly Report on
     Form 10-Q for the quarter ended September 30, 1990).

10.14Assignment and Assumption  Agreement  (Investor  Services  Agreement) dated
     October  23,  1990,  by  and  between  CCEC  and  ConCap  Services  Company
     (Incorporated  by reference to the Annual  Report on Form 10-K for the year
     ended December 31, 1990).

10.15Letter of Notice dated December 20, 1991, from Partnership  Services,  Inc.
     ("PSI")  to  the   Partnership   regarding  the  change  in  ownership  and
     dissolution of the ConCap Services Company whereby PSI assumed the Investor
     Services Agreement. (Incorporated by reference to the Annual Report on Form
     10-K for the year ended December 31, 1990).

10.16Financial  Services  Agreement  dated  October 23, 1990, by and between the
     Partnership and CCEC  (Incorporated by reference to the Quarterly Report on
     Form 10-Q for the quarter ended September 30, 1990).

10.17Assignment and Assumption  Agreement  (Financial  Services Agreement) dated
     October  23,  1990,  by  and  between  CCEC  and  ConCap  Capital   Company
     (Incorporated  by  reference to the  Quarterly  Report on Form 10-Q for the
     quarter ended September 30, 1990).

10.18Letter of Notice  dated  December  20,  1991,  from PSI to the  Partnership
     regarding the change in ownership and dissolution of ConCap Capital Company
     whereby PSI assumed the  Financial  Services  Agreement.  (Incorporated  by
     reference to the Annual Report on Form 10-K for the year ended December 31,
     1991).

10.19Stock and Asset  Purchase  Agreement,  dated  December 8, 1994 (the "Gordon
     Agreement"),   among  MAE-ICC,   Inc.   ("MAE-ICC"),   Gordon  Realty  Inc.
     ("Gordon"),  GII Realty,  Inc. ("GII  Realty"),  and certain other parties.
     (Incorporated by reference to Form 8-K dated December 8, 1994).

10.20Exercise  of the  Option  (as  defined  in  the  Gordon  Agreement),  dated
     December 8, 1994, between MAE-ICC and Gordon. (Incorporated by reference to
     Form 8-K dated December 8, 1994).

10.21Exercise of the  remaining  portion of the Option (as defined in the Gordon
     Agreement),   dated   December  8,  1994,   between   MAE-ICC  and  Gordon.
     (Incorporated by reference to Form 8-K dated October 24, 1995).

10.22Promissory Note dated September 6, 1996,  between Sutton Place CCPV,  L.P.,
     a South Carolina limited partnership and First Union National Bank of North
     Carolina, a national banking association.

10.23Multifamily  Note dated  November 1, 1996 between  Aspen Ridge  Associates,
     Ltd., a Texas Limited Partnership and Lehman Brothers Holdings,  Inc. d/b/a
     Lehman Capital, a division of Lehman Brothers  Holdings,  Inc. d/b/a Lehman
     Capital, a division of Lehman Brothers Holdings, Inc.

11   Statement regarding  computation of Net Income per Limited Partnership Unit
     (Incorporated  by reference to Note 1 of Item 8 - Financial  Statements  of
     this Form 10-K).

16.1 Letter,  dated August 12, 1992,  from Ernst & Young to the  Securities  and
     Exchange   Commission   regarding   change   in   certifying    accountant.
     (Incorporated by reference to Form 8-K dated August 6, 1992).

16.2 Letter  dated  May  9,  1995  from  the  Registrant's   former  independent
     accountant  regarding  its  concurrence  with  the  statements  made by the
     Registrant regarding a change in the certifying  accountant.  (Incorporated
     by reference to Form 8-K dated May 3, 1995).

18   Independent  Accountants'  Preferability  Letter for  Change in  Accounting
     Principle.

27   Financial Data Schedule.


<PAGE>


                                                                      Exhibit 18

February 7, 2000


Mr. Patrick J. Foye
Executive Vice President
ConCap Equities, Inc.
General Partner of Consolidated Capital Properties V
55 Beattie Place

P.O. Box 1089
Greenville, South Carolina 29602

Dear Mr. Foye:

Note M of Notes to the Consolidated Financial Statements of Consolidated Capital
Properties  V included in its Form 10-KSB for the year ended  December  31, 1999
describes a change in the method of accounting to capitalize  exterior  painting
and major landscaping,  which would have been expensed under the old policy. You
have advised us that you believe  that the change is to a  preferable  method in
your  circumstances  because it provides a better  matching of expenses with the
related benefit of the  expenditures  and is consistent with policies  currently
being used by your industry and conforms to the policies of the General Partner.

There are no authoritative criteria for determining a preferable method based on
the particular circumstances; however, we conclude that the change in the method
of accounting  for exterior  painting and major  landscaping is to an acceptable
alternative  method which,  based on your business  judgment to make this change
for the reasons cited above, is preferable in your circumstances.

                                                               Very truly yours,
                                                            /s/Ernst & Young LLP