UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 10-K

[X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, ~~2009~~2010

[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period _________to _________

Commission file number 0-10304

ANGELES PARTNERS X

(Exact name of registrant as specified in its charter)

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

55 Beattie Place, PO Box 1089

Greenville, South Carolina 29602

(Address of principal executive offices)

(Registrant's telephone number, including area code ) (864) 239-1000

Securities registered pursuant to Section 12(b) of the Act:

None

Securities registered pursuant to Section 12(g) of the Act:

Limited Partnership Units

(Title of class)

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes [ ] No [X]

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. Yes [ ] No [X]

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 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 [ ]

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). [ ] Yes [ ] No

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (Section 229.405 of this chapter) is not contained herein, and will not 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-K or any amendment to this Form 10-K. [X]

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer”, “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer £	Accelerated filer £
Non-accelerated filer £(Do not check if a smaller reporting company)	Smaller reporting company S

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes [ ] No [X]

State the aggregate market value of the voting and non-voting partnership interests held by non-affiliates computed by reference to the price at which the partnership interests were last sold, or the average bid and asked price of such partnership interests as of the last business day of the registrant’s most recently completed second fiscal quarter. No market exists for the partnership interests of the Registrant, and, therefore, no aggregate market value can be determined.

DOCUMENTS INCORPORATED BY REFERENCE

None

FORWARD-LOOKING STATEMENTS

The ~~Private~~ Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for forward-looking statements in certain circumstances. Certain information included in this Annual Report contains or may contain information that is forward-looking within the meaning of the federal securities laws, including, without limitation, statements regarding the effect of redevelopments, the Partnership’s future financial performance, including the Partnership’s ability to maintain current or meet projected occupancy and rent levels, and the effect of government regulations. Actual results may differ materially from those described in these forward-looking statements and, in addition, will be affected by a variety of risks and factors, some of which are beyond the Partnership’s control, including, without limitation: ~~financing~~national ~~risks,~~and ~~including~~local ~~the~~economic ~~availability~~conditions, ~~and~~including ~~cost of financing and~~ the ~~risk~~pace ~~that the Partnership’s cash flows from operations may be insufficient to meet required payments~~ of ~~principal~~job ~~and~~growth ~~interest; natural disasters~~ and ~~severe weather such as hurricanes; national and local economic conditions;~~ the ~~general~~ level of ~~interest rates~~unemployment; ~~energy costs;~~ the terms of governmental regulations that can affect ~~the~~ the Partnership’s ~~property~~ and interpretations of those regulations; the competitive environment in which the Partnership operates; real estate risks, including fluctuations in real estate values and the general economic climate in local markets and competition for residents in such markets; insurance risk, including the cost of insurance; development risks; litigation, including costs associated with prosecuting or defending claims and any adverse outcomes; and possible environmental liabilities, including costs, fines or penalties that may be incurred due to necessary remediation of contamination of properties ~~presently owned or~~ previously owned by the Partnership. Readers should carefully review the Partnership’s consolidated financial statements and the notes thereto, as well as the other documents the Partnership files from time to time with the Securities and Exchange Commission.

PART I

Item 1. Business

Angeles Partners X (the "Registrant" or "Partnership") is a publicly-held limited partnership organized under the California Uniform Limited Partnership Act pursuant to a Certificate and Amended Agreement of Limited Partnership (hereinafter referred to as the "Partnership Agreement") dated June 24, 1980. The general partner responsible for management of the Partnership's business is Angeles Realty Corporation ("ARC"), a California corporation (hereinafter referred to as the "General Partner"). The General Partner is a wholly-owned subsidiary of Apartment Investment and Management Company ("AIMCO"), a publicly traded real estate investment trust. The Non-Managing General Partner is AIMCO Properties, L.P., a wholly-owned subsidiary of AIMCO. The General Partner and the Non-Managing General Partner are herein collectively referred to as the "General Partners". The Partnership Agreement provides that the Partnership is to terminate on December 31, 2035, unless terminated prior to such date.

~~The~~Commencing ~~Registrant~~May is12, ~~engaged~~1981, in the Registrant ~~business~~offered ofpursuant ~~operating~~to ~~and~~a ~~holding~~Registration ~~real~~Statement ~~estate~~filed ~~properties~~with ~~for~~the ~~investment. In~~Securities ~~1981~~ and ~~1982,~~Exchange ~~during~~Commission ~~its~~up ~~acquisition~~to ~~phase~~25,000 ~~the~~Units ~~Registrant~~of Limited Partnership ~~acquired~~Interest ~~eight~~(the ~~investment~~"Units") ~~properties.~~at ~~Prior~~a topurchase ~~2007~~price of $1,000 ~~seven~~per ~~investment~~Unit ~~properties were~~with ~~either~~a ~~sold~~minimum purchase orof ~~foreclosed~~5 onUnits ($5,000). Upon ~~The~~termination of the offering, the Registrant ~~continues~~had toaccepted ~~own~~subscriptions ~~and~~for ~~operate one~~18,714 ~~investment~~Units ~~property~~for asan aggregate of $18,714,000, ~~December~~including 31100 Units which were purchased by the General Partner for $100,000. Since ~~2009~~its ~~(see~~initial ~~"Item~~offering, 2the -Registrant has not received, nor ~~Property")~~were limited partners required to make, additional capital contributions.

~~Commencing~~The ~~May~~Registrant ~~12,~~was ~~1981,~~engaged in the ~~Registrant~~ ~~offered~~business ~~pursuant~~of tooperating aand ~~Registration~~holding ~~Statement~~real ~~filed~~estate ~~with~~properties ~~the~~for ~~Securities~~investment. In 1981 and ~~Exchange~~1982, ~~Commission~~during upits toacquisition 25phase,~~000~~ ~~Units of Limited Partnership Interest (~~the ~~"Units") at a purchase price of $1,000 per Unit with a minimum~~Registrant ~~purchase~~acquired ofeight 5investment ~~Units ($5,000)~~properties. ~~Upon~~ ~~termination~~Prior ofto ~~the offering~~2007, ~~the Registrant~~seven ~~had~~investment ~~accepted subscriptions for 18,714 Units for an aggregate of~~properties ~~$18,714,000,~~were ~~including~~either ~~100~~sold ~~Units~~or ~~which~~foreclosed ~~were~~on. ~~purchased~~During by the ~~General~~year ~~Partner~~ended ~~for $100~~December 31,~~000. Since~~ ~~its initial offering~~2010, the ~~Registrant~~ ~~has~~Registrant ~~not~~sold ~~received,~~its ~~nor~~remaining ~~are~~property ~~limited partners required~~ to ~~make,~~a ~~additional~~third ~~capital contributions~~party.

~~The~~As of December 31, 2010, the Partnership ~~has~~adopted nothe liquidation basis of accounting, due to the sale of its ~~employees~~remaining investment property, Carriage Hill Apartments during December 2010. ~~Management~~ TheGeneral ~~and~~Partner ~~administrative~~estimates ~~services~~the ~~are~~liquidation process ~~performed~~will be completed by December 31, 2011. Because the success in ~~General~~realization ~~Partner~~of assets and bysettlement ~~agents~~of ~~retained~~liabilities byis based on the General Partner~~. Property~~’s best estimates, the liquidation ~~management~~period ~~services~~may ~~are~~be ~~provided~~shorter atthan ~~the~~projected ~~Partnership's~~or ~~property~~it bymay anbe ~~affiliate of~~extended beyond the ~~General Partner~~projected period.

The Partnership has no employees. Management and administrative services are performed by the General Partner and by agents retained by the General Partner. Property management services were provided at the Partnership's former property by an affiliate of the General Partner for the years ended December 31, 2010 and 2009.

A further description of the Partnership's business is included in "Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations" included in this Form 10-K.

Item 2. Property

On December 28, 2010, the Partnership sold Carriage Hill Apartments to a third party for a gross sales price of $7,100,000. The ~~following~~net ~~table~~proceeds ~~sets~~realized by the Partnership were ~~forth~~approximately $6,909,000 after payment of closing costs of approximately $191,000. The Partnership used approximately $5,360,000 of the net proceeds to repay the mortgage encumbering the property. The Partnership's ~~investment~~recognized a gain of approximately $5,332,000 as a result of the sale during the year ended December 31, 2010. While the Partnership is not subject to Federal income tax, it is subject to tax related to its Michigan activities. During the year ended December 31, 2010, as a result of the sale of Carriage Hill Apartments, the Partnership recognized current tax expense of approximately $186,000, which is reflected as a reduction of gain from sale of discontinued operations. The corresponding liability is included in ~~property:~~taxes payable at December 31, 2010.

	Date of
Property	Purchase	Type of Ownership	Use
Carriage Hills Apartments	07/30/82	Fee ownership subject to a	Apartment -
East Lansing, Michigan		first mortgage (1)	143 units

The mortgage indebtedness that encumbered Carriage Hill Apartments of approximately $5,360,000 was refinanced during 2007 under a secured real estate credit facility (“Secured Credit Facility”) which had a maturity date of October 1, 2010. On July 31, 2010, AIMCO Properties, L.P. exercised its option to extend the maturity date of the Secured Credit Facility to October 1, 2011. In addition, AIMCO Properties, L.P. paid an extension fee of approximately $86,000, approximately $14,000 of which was allocated to the Partnership and capitalized during the year ended December 31, 2010. The unamortized balance of the loan costs of approximately $10,000 was written off in conjunction with the sale of Carriage Hill Apartments and recognized as loss on extinguishment of debt during the year ended December 31, 2010.

(1) Property is held by a limited partnership in which the Partnership owns a 99.00% interest.

Schedule of Property

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

	Gross
	Carrying		Accumulated	Depreciable	Method of	Federal
Property	Value		Depreciation	Life	Depreciation	Tax Basis
	(in thousands)					(in thousands)
Carriage Hills
Apartments	$ 7,391	$ 6,049		5-30 yrs	S/L	$ 1,618

See "Note A – Organization and Summary of Significant Accounting Policies" to the consolidated financial statements included in "Item 8. Financial Statements and Supplementary Data” for a description of the Partnership's capitalization and depreciation policies.

Schedule of Property Indebtedness

The following table sets forth certain information relating to the loan encumbering the Partnership's property:

	Principal				Principal
	Balance At				Balance
	December 31,	Interest	Period	Maturity	Due At
Property	2009	Rate	Amortized	Date	Maturity (3)
	(in thousands)				(in thousands)
Carriage Hills
Apartments
1st mortgage	$ 5,360	(1)	(2)	10/01/10	$ 5,360

(1) Adjustable rate based on the one-month LIBOR rate plus 0.78% to 0.98% depending upon certain performance criteria. The rate at December 31, 2009 was 1.02%.

(2) Interest only payments.

(3) See “Note B – Mortgage Note Payable” to the consolidated financial statements included in “Item 8. Financial Statements and Supplementary Data” for other specific details about the loan.

The mortgage indebtedness encumbering Carriage Hills Apartments of $5,360,000 was refinanced during 2007 under a secured real estate credit facility (“Secured Credit Facility”) with AEGON USA Realty Advisors, Inc., as agent for Transamerica Occidental Life Insurance Company, which has a maturity of October 1, 2010. AIMCO Properties, L.P. has the option to extend the Secured Credit Facility by two one-year extensions if no event of default exists under the Secured Credit Facility. The new mortgage requires monthly payments of interest only beginning on November 1, 2007, through the October 1, 2010 maturity date, at which date the entire principal balance of $5,360,000 is due. The new loan has a variable interest rate of the one-month LIBOR rate plus 0.78% (1.02% per annum at December 31, 2009) and resets monthly. The variable interest rate may increase to the one-month LIBOR rate plus 0.98% if the debt service coverage ratio of the investment property decreases below a prescribed threshold. The Secured Credit Facility provides mortgage loans on properties owned by other partnerships that are affiliated with the General Partner. The Secured Credit Facility creates separate loans for each property that are not cross-collateralized or cross-defaulted with the other property loans. The loans are prepayable without penalty. As a condition of the Secured Credit Facility, the lender required AIMCO Properties, L.P., an affiliate of the General Partner, to guarantee the obligations and liabilities of the Partnership with respect to the new mortgage financing. The General Partner currently intends to refinance the Partnership’s mortgage indebtedness prior to its maturity on October 1, 2010, otherwise the term of the Secured Credit Facility will be extended.

Schedule of Rental Rates and Occupancy

Average annual rental rates and occupancy for 2009 and 2008 for the property were as follows:

	Average Annual		Average Annual
	Rental Rate		Occupancy
	(per unit)
Property	2009	2008	2009	2008
Carriage Hills Apartments	$10,531	$10,171	97%	97%

The real estate industry is highly competitive. The property is subject to competition from other residential apartment complexes in the area. The General Partner believes that the property is adequately insured. The property is an apartment complex which leases units for terms of one year or less. As of December 31, 2009, no residential tenant leases 10% or more of the available rental space. The property is in good condition, subject to normal depreciation and deterioration as is typical for an asset of this type and age.

Schedule of Real Estate Taxes and Rate

Real estate taxes and rate in 2009 for the property were as follows:

	2009	2009
	Billing	Rate
	(in thousands)
Carriage Hills Apartments	$200	6.54%

Capital Improvements:

Carriage ~~Hills~~ Hill Apartments: During the year ended December 31, ~~2009~~2010, the Partnership completed approximately $~~181~~223,000 of capital improvements at the property, consisting primarily of ~~parking~~ ~~lot~~electrical ~~resurfacing~~upgrades, ~~clubhouse~~water heater, ~~renovations~~appliance and floor covering ~~replacement. These~~replacements ~~improvements~~and ~~were~~reconstruction ~~funded~~related ~~from~~to wind ~~operations.~~and ~~The~~hail ~~Partnership~~damage ~~regularly evaluates~~to the ~~capital~~property ~~improvement~~caused ~~needs~~by ofa ~~the~~severe ~~property~~storm. ~~While~~ ~~the~~These ~~Partnership~~improvements ~~has~~were nofunded ~~material~~from ~~commitments~~operations ~~for property improvements~~ and ~~replacements,~~ ~~certain~~insurance ~~routine capital expenditures are anticipated during 2010~~proceeds. ~~Such~~ ~~capital~~The ~~expenditures will depend on the physical condition of~~Partnership ~~the~~sold ~~property~~Carriage asHill ~~well~~Apartments asto ~~anticipated~~a ~~cash~~third ~~flow~~party ~~generated~~on byDecember ~~the property~~28, 2010.

Capital expenditures will be incurred only if cash is available from operations or from Partnership reserves. To the extent that capital improvements are completed, the Partnership’s distributable cash flow, if any, may be adversely affected at least in the short term.

Item 3. Legal Proceedings

As previously disclosed, AIMCO Properties, L.P. and NHP Management Company, both affiliates of the General Partner, were defendants in a lawsuit, filed as a collective action in August 2003 in the United States District Court for the District of Columbia, alleging that they willfully violated the Fair Labor Standards Act (“FLSA”) by failing to pay maintenance workers overtime for time worked in excess of 40 hours per week (“overtime claims”). The plaintiffs also contended that AIMCO Properties, L.P. and NHP Management Company (“the Defendants”) failed to compensate maintenance workers for time that they were required to be "on-call" (“on-call claims”). In March 2007, the court in the District of Columbia decertified the collective action. In July 2007, plaintiffs’ counsel filed individual cases in Federal court in 22 jurisdictions. In the second quarter of 2008, AIMCO Properties, L.P. settled the overtime cases involving 652 ~~plaintiffs~~ plaintiffs and established a framework for resolving the 88 remaining “on-call” claims and the attorneys’ fees claimed by plaintiffs’ counsel. As a result, the lawsuits asserted in the 22 Federal courts ~~have~~were ~~been~~ dismissed. ~~During~~ During the fourth quarter of 2008, the settlement amounts for alleged unpaid overtime to employees were paid by those partnerships where the respective employees had worked. The Partnership was not required to pay any settlement amounts. AtDuring ~~this~~January ~~time~~2011, the 88parties ~~remaining~~reached ~~“on-call”~~an ~~claims and~~agreement ~~the~~to ~~attorneys’ fees claimed by plaintiffs’ counsel are not resolved. The~~settle ~~parties~~the ~~have~~remaining ~~selected six~~ “on-call” claims” ~~that will proceed forward through the arbitration process~~ and ~~have selected arbitrators. After those arbitrations have been completed,~~ the ~~parties~~plaintiffs’ ~~will~~attorneys’ ~~revisit settling the on-call claims~~fees. The ~~first~~ ~~two~~Partnership ~~arbitrations~~will ~~took~~not ~~place~~be inrequired ~~December~~to ~~2009~~pay ~~and~~any ~~the~~settlement ~~Defendants~~amounts ~~received~~or ~~a defense verdict against the first two claimants and~~ plaintiffs ~~dismissed the~~’ ~~claims~~attorneys’ offees ~~the next two claimants. The remaining two arbitrations will take place in April 2010. The General Partner is uncertain~~ as toa ~~the~~result ~~amount~~ of ~~any loss~~this ~~that may be allocable to the Partnership~~agreement. ~~Therefore,~~These ~~the~~settlements ~~Partnership~~resolve ~~cannot~~the ~~estimate~~case ~~whether~~in ~~any~~its ~~loss will occur or a potential range of loss~~entirety.

PART II

The Partnership, a publicly-held limited partnership, sold 18,714 limited partnership units (the “Units”) aggregating $18,714,000 including 100 Units purchased by the General Partner for $100,000. ~~The~~ ~~Partnership~~At ~~currently~~December ~~has~~31, ~~769~~2010, the Partnership had 760 holders of ~~record~~ record owning an aggregate of 18,~~625~~620 Units. Affiliates of the General ~~Partner~~ Partner owned 11,518 Units or 61.8486% at December 31, ~~2009~~2010. No public trading market has developed for the Units, and it is not anticipated that such a market will develop in the future.

The Partnership distributed the following amounts during the years ended December 31, ~~2009~~2010 and ~~2008~~2009 (in thousands, except per unit data):

	Year Ended	Per Limited	Year Ended	Per Limited
	December 31,	Partnership	December 31,	Partnership
	2009	Unit	2008	Unit
	2010	Unit	2009	Unit
Refinance (1)	$ 425	$ 22.60	$ 130	$ 6.93
Operations	$ 188	$ 9.98	$ --	$ --
Refinance (1)	172	9.13	425	22.60
	$ 360	$ 19.11	$ 425	$ 22.60

(1) Distributions from the September 2007 refinancing of the mortgage encumbering Carriage ~~Hills~~Hill Apartments.

Subsequent to December 31, ~~2009~~2010, the Partnership distributed sale proceeds of approximately $~~100~~1,420,000 ofto its ~~September~~limited ~~2007 refinancing~~partners ~~proceeds~~from the December 2010 sale of Carriage Hill Apartments (approximately $576.3224 per limited partnership unit). ~~Future~~Additionally, in ~~cash~~conjunction ~~distributions~~with ~~will depend on~~ the ~~levels~~transfer of ~~net~~funds ~~cash generated~~ from ~~operations,~~ the ~~timing~~majority-owned ofsub-tier ~~the debt maturity~~limited partnership, ~~refinancing~~which ~~and/or~~owned ~~property~~Carriage ~~sale. The~~Hill ~~Partnership's cash available for distribution is reviewed on a monthly basis. There can be no assurance~~Apartments, ~~however,~~to ~~that~~ the Partnership ~~will generate~~, ~~sufficient~~approximately ~~funds from operations~~$13,000 ~~after~~was ~~required~~distributed ~~capital expenditures,~~ to ~~permit any~~the ~~additional~~general ~~distributions~~partner toof ~~its partners in 2010 or subsequent~~the ~~periods. See~~majority-owned ~~"Item 2. Property~~ sub-tier ~~Capital~~limited ~~Improvements"~~partnership ~~for~~subsequent ~~information relating~~ to ~~capital~~December ~~expenditures at the property~~31, 2010.

InThe ~~addition to its indirect ownership of the general partner interest in the~~ Partnership,'s ~~AIMCO and its~~cash ~~affiliates~~available ~~owned~~for ~~11,518~~distribution Units in the Partnership representing 61.84% of the outstanding Units at December 31, 2009. A number of these Units were acquired pursuant to tender offers made by AIMCO or its affiliates. It is possible that AIMCO or its affiliates will ~~acquire~~be ~~additional~~reviewed ~~Units~~on ~~in exchange for cash or~~ a ~~combination~~quarterly ~~of cash and units in AIMCO Properties, L~~basis.~~P.,~~ ~~the operating~~Future ~~partnership of AIMCO, either through private purchases or tender~~cash ~~offers. Pursuant~~distributions towill ~~the~~depend ~~Partnership Agreement, unitholders holding a majority of the Units are entitled to take action with respect to a variety of matters, that include, but are not limited to, voting~~ on ~~certain amendments to~~ the ~~Partnership~~amount ~~Agreement and voting to remove the General Partner. As a result~~ of ~~its~~cash ~~ownership~~remaining ofafter ~~61.84% of the outstanding Units, AIMCO and its~~fully ~~affiliates~~liquidating ~~are in a position to control all such voting decisions with respect to~~ the Partnership. Although the General Partner owes fiduciary duties to the limited partners of the Partnership, the General Partner also owes fiduciary duties to AIMCO as its sole stockholder. As a result, the duties of the General Partner, as general partner, to the Partnership and its limited partners may come into conflict with the duties of the General Partner to AIMCO as its sole stockholder.

In addition to its indirect ownership of the general partner interest in the Partnership, AIMCO and its affiliates owned 11,518 Units in the Partnership representing 61.86% of the outstanding Units at December 31, 2010. A number of these Units were acquired pursuant to tender offers made by AIMCO or its affiliates. Pursuant to the Partnership Agreement, unitholders holding a majority of the Units are entitled to take action with respect to a variety of matters, that include, but are not limited to, voting on certain amendments to the Partnership Agreement and voting to remove the General Partner. As a result of its ownership of 61.86% of the outstanding Units, AIMCO and its affiliates are in a position to control all such voting decisions with respect to the Partnership. Although the General Partner owes fiduciary duties to the limited partners of the Partnership, the General Partner also owes fiduciary duties to AIMCO as its sole stockholder. As a result, the duties of the General Partner, as general partner, to the Partnership and its limited partners may come into conflict with the duties of the General Partner to AIMCO as its sole stockholder.

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations

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

The Partnership’s financial results depend upon a number of factors including the ability to attract and maintain tenants at the investment property, interest rates on mortgage loans, costs incurred to operate the investment property, general economic conditions and weather. As part of the ongoing business plan of the Partnership, the General Partner monitors the rental market environment of its investment property 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, the General Partner may use rental concessions and rental rate reductions to offset softening market conditions; accordingly, there is no guarantee that the General Partner will be able to sustain such a plan. Further, a number of factors that are outside the control of the Partnership such as the local economic climate and weather can adversely or positively affect the Partnership’s financial results.

Results of Operations

~~The~~As of December 31, 2010, the Partnership adopted the liquidation basis of accounting, due to the sale of its remaining investment property, Carriage Hill Apartments during December 2010. Prior to adopting the liquidation basis of accounting, the Partnership’s net income was approximately $5,481,000 for the year ended December 31, ~~2009~~2010 ~~was approximately $330,000~~ compared to net income of approximately $~~145~~330,000 for the year ended December 31, ~~2008~~2009. The increase in net income is due to athe ~~decrease~~gain from sale of discontinued operations in ~~total~~2010, ~~expenses~~partially ~~and~~offset anby ~~increase~~a decrease in ~~total~~ ~~revenues.~~income from discontinued operations.

~~Total~~On ~~expenses~~December ~~decreased~~28, 2010, the Partnership sold ~~primarily~~Carriage ~~due~~Hill Apartments to ~~decreases~~a inthird ~~interest~~party ~~and~~for ~~general~~a ~~and~~gross ~~administrative~~sales ~~expenses~~price of $7,100,000. The net proceeds realized by the Partnership were ~~Operating~~approximately $6,909,000 ~~depreciation~~after ~~and~~payment ~~property~~of ~~tax~~closing ~~expenses~~costs ~~remained~~of ~~relatively~~approximately $191,000. ~~constant~~The Partnership used approximately $5,360,000 of the net proceeds to ~~for~~repay the ~~comparable~~mortgage ~~periods~~encumbering the property. The ~~decrease~~Partnership inrecognized ~~interest~~a ~~expense~~gain of isapproximately ~~due~~$5,332,000 toas a result of the sale during the year ended ~~decrease~~December in31, ~~interest~~2010. In onaddition the ~~debt~~Partnership ~~encumbering~~recognized ~~Carriage~~a ~~Hills~~loss ~~Apartments~~on extinguishment of debt of approximately $10,000 as a result of athe ~~decrease~~write inoff of unamortized loan costs during the ~~variable~~year ~~interest~~ended ~~rate~~December 31, 2010. ~~Operating~~While ~~expenses~~the Partnership ~~remained~~is not subject to Federal income tax, it is subject to tax related ~~relatively~~to ~~constant~~its Michigan activities. During the year ended December 31, 2010, as ana ~~increase~~result of inthe ~~salaries~~sale ~~and~~of ~~related~~Carriage ~~benefits~~Hill ~~was~~Apartments, ~~offset~~the Partnership recognized current tax byexpense ~~decreases~~of inapproximately ~~utility~~$186,000, ~~expenses~~which ~~and~~is ~~clean~~reflected upas ~~costs~~a ~~incurred~~reduction inof ~~2008~~gain from ~~related~~sale toof discontinued operations. The corresponding liability is included in ataxes ~~2007~~payable ~~casualty~~at December 31, 2010.

~~The~~Excluding ~~decrease~~the inimpact ~~general~~of ~~and administrative~~the ~~expenses~~gain isfrom ~~due~~sale toof discontinued ~~decreases~~operations in ~~reimbursements~~2010, to the ~~General Partner as allowed under the~~ Partnership’s ~~Agreement~~income ~~and~~from ~~the management fee based~~discontinued onoperations ~~net~~was ~~cash~~approximately ~~from~~$149,000 ~~operations~~and ~~payable~~$330,000 tofor the ~~General~~years ~~Partner.~~ended ~~Also included in~~December ~~general~~31, 2010 and ~~administrative~~2009, ~~expenses~~respectively. ~~for~~The ~~the~~decrease ~~years~~in ~~ended~~income ~~December~~from ~~31,~~discontinued operations ~~2009~~is ~~and 2008~~due ~~are~~to ~~costs~~a ~~associated~~decrease ~~with~~in ~~the~~total ~~quarterly~~revenues and ~~annual~~an ~~communications~~increase ~~with~~in total ~~investors~~expenses, ~~and~~partially ~~regulatory~~offset ~~agencies~~by ~~and~~ the ~~annual~~recognition ~~audit~~of ~~required~~a bycasualty ~~the Partnership~~gain ~~Agreement~~in 2010.

~~Total~~The decrease in total revenues ~~increased~~is due to andecreases ~~increase~~ in both rental ~~income.~~and ~~Other~~other income ~~remained relatively constant for the comparable periods~~. The ~~increase~~decrease in rental income is ~~primarily~~ due to ~~an increase~~a decrease in the average rental rate and a slight decrease in occupancy at Carriage ~~Hills~~Hill Apartments. The decrease in other income is primarily due to a decrease in resident utility reimbursements.

The increase in total expenses is primarily due to increases in operating and general and administrative expenses and the recognition of a loss on extinguishment of debt in 2010. Depreciation, interest and property tax expenses remained relatively constant for the comparable periods. The increase in operating expenses is due to increases in salaries and related benefits and clean-up costs incurred related to a severe storm at Carriage Hill Apartments (as discussed below), partially offset by a decrease in contract services.

The increase in general and administrative expenses is primarily due to application costs incurred by the Partnership in 2010 related to a potential refinancing of the mortgage debt encumbering Carriage Hill Apartments, which had a maturity date of October 1, 2010. The option to extend the maturity date to October 1, 2011 was exercised in July 2010. As a result of the sale of Carriage Hill Apartments in December 2010, approximately $71,000 of costs which had been incurred prior to the sale for a potential refinancing were expensed. The increase in general and administrative expenses is also due to the reversal of the management fee based on net cash from operations payable to the General Partner during the year ended December 31, 2009 and an increase in management reimbursements to the General Partner as allowed under the Partnership Agreement. Also included in general and administrative expenses for the years ended December 31, 2010 and 2009 are costs associated with the quarterly and annual communications with investors and regulatory agencies and the annual audit required by the Partnership Agreement.

During June 2010, Carriage Hill Apartments suffered damages of approximately $35,000 from falling trees as a result of a severe storm. During the year ended December 31, 2010, the Partnership incurred approximately $10,000 for clean-up costs, which were included in operating expenses. During the year ended December 31, 2010, the Partnership recognized a casualty gain of approximately $25,000 as a result of the receipt of insurance proceeds of approximately $25,000. The damaged assets were fully depreciated.

Liquidity and Capital Resources

AtThe ~~December 31, 2009, the~~ Partnership ~~had~~expects ~~cash and cash equivalents of approximately $171,000 compared~~ to ~~approximately~~liquidate ~~$184,000~~during at2011 ~~December 31, 2008. Cash and cash equivalents decreased approximately $13,000 since December 31, 2008~~ due to ~~approximately $425,000~~the ~~and~~sale ~~$181,000~~ of ~~cash~~its ~~used~~remaining investment ~~in financing and investing activities,~~property ~~respectively,~~(see ~~partially~~“Note ~~offset~~A by– ~~approximately~~Basis ~~$593,000~~ of ~~cash~~Presentation” ~~provided~~to ~~by operating~~the ~~activities.~~consolidated ~~Cash~~financial ~~used~~statements included in ~~financing~~“Item ~~activities consisted of distributions to partners~~8. ~~Cash~~Financial ~~used~~Statements ~~in investing activities consisted of property improvements~~ and ~~replacements.~~Supplementary Data”).

~~The~~At ~~sufficiency~~December of31, ~~existing~~2010, the ~~liquid~~Partnership ~~assets~~had tocash ~~meet future liquidity~~ and ~~capital~~cash ~~expenditure~~equivalents ~~requirements~~of ~~is directly~~approximately ~~related~~$1,859,000 compared to ~~the~~approximately ~~level~~$171,000 ofat ~~capital~~December ~~expenditures~~31, ~~required~~2009. Cash atand ~~the~~cash ~~investment~~equivalents ~~property~~increased toapproximately ~~adequately~~$1,688,000 ~~maintain~~since ~~the~~December ~~physical~~31, ~~assets~~2009 ~~and~~due ~~other~~to ~~operating needs of~~approximately ~~the~~$6,725,000 ~~Partnership~~ and ~~to comply with Federal~~$333,000 ~~state~~of ~~and~~cash ~~local~~provided ~~legal~~by investing and ~~regulatory~~operating activities, ~~requirements. The~~respectively, ~~General~~partially ~~Partner~~offset ~~monitors~~by ~~developments~~approximately in$5,370,000 ~~the~~of ~~area~~cash ofused in ~~legal~~financing ~~and~~activities. ~~regulatory~~Cash ~~compliance. The~~provided ~~Partnership~~by ~~regularly~~investing ~~evaluates~~activities ~~the~~consisted of net ~~capital~~proceeds ~~improvement~~from ~~needs~~the sale of ~~the~~Carriage ~~property. While~~Hill ~~the~~Apartments ~~Partnership~~and ~~has~~insurance noproceeds ~~material~~received, ~~commitments~~partially ~~for~~offset by property improvements and replacements,. ~~certain~~Cash ~~routine~~used ~~capital~~in ~~expenditures~~financing ~~are~~activities ~~anticipated~~consisted ~~during~~of ~~2010. Such~~repayment ~~capital~~of the mortgage encumbering ~~expenditures~~Carriage ~~will~~Hill ~~depend~~Apartments, ondistributions ~~the~~to ~~physical~~partners, ~~condition~~loan costs paid and repayment of ~~the~~advances ~~property~~from asan ~~well~~affiliate, aspartially offset by advances received ~~anticipated~~from ~~cash~~an ~~flow~~affiliate ~~generated~~and bythe return of sale distributions paid to the ~~property~~General Partner in prior years.

~~Capital~~During ~~expenditures~~the ~~will~~year beended ~~incurred~~December ~~only~~31, if2010, ~~cash~~AIMCO isProperties, ~~available~~L.P., ~~from~~an ~~operations~~affiliate orof ~~from~~the General Partner, advanced the Partnership approximately $113,000 to fund real estate taxes and a ~~reserves~~fee to extend the maturity date of the mortgage encumbering Carriage Hill Apartments. To There were no such advances during the ~~extent~~year ~~that~~ended ~~capital~~December ~~improvements~~31, ~~are~~2009. AIMCO ~~completed~~Properties, L.P. charged interest on advances under the terms permitted by the Partnership’s ~~distributable~~Agreement. ~~cash~~The ~~flow~~outstanding advances made to the Partnership accrued interest at a variable rate based on the prime rate plus a market rate adjustment for similar type loans. Affiliates of the General Partner reviewed the market rate adjustment quarterly. Interest expense was approximately $3,000 for ifthe ~~any~~year ended December 31, ~~may~~2010. beThere ~~adversely~~was ~~affected~~no atsuch interest expense during ~~least~~the inyear ended December 31, 2009. During the ~~short~~year ~~term~~ended December 31, 2010 the Partnership repaid the outstanding advances and accrued interest of approximately $116,000. There were no payments made during the year ended December 31, 2009. There were no outstanding advances or associated accrued interest at December 31, 2010 and 2009.

~~The Partnership’s~~As ~~assets~~a ~~are~~result ~~thought~~of tothe ~~be sufficient for any near-term needs~~decision ~~(exclusive~~to ofliquidate ~~capital improvements and repayment of~~ the ~~mortgage~~Partnership, ~~note payable) of~~ the Partnership. ~~The~~changed ~~mortgage indebtedness~~its ~~encumbering~~basis ~~Carriage Hills Apartments~~ of ~~$5,360,000 was refinanced~~accounting ~~during 2007 under a secured real estate credit facility (“Secured Credit Facility”) with AEGON USA Realty Advisors, Inc., as agent~~ for ~~Transamerica Occidental~~its ~~Life~~consolidated ~~Insurance~~financial ~~Company,~~statements ~~which~~at ~~has~~December ~~a maturity of October 1~~31, 2010~~. AIMCO~~ ~~Properties, L.P. has the option~~ to ~~extend~~ the ~~Secured Credit Facility by~~ ~~two~~liquidation ~~one-year~~basis ~~extensions if no event~~ of ~~default exists under the Secured Credit Facility~~accounting. ~~The new mortgage requires monthly payments of interest only beginning on November 1~~Consequently, ~~2007,~~assets ~~through~~have ~~the~~been ~~October~~valued ~~1, 2010 maturity date,~~ at ~~which date~~ ~~the~~estimated ~~entire~~net ~~principal~~realizable ~~balance~~value ofand ~~$5,360,000~~liabilities isare ~~due. The~~presented ~~new~~at ~~loan~~their ~~has a~~estimated ~~variable~~settlement ~~interest rate of the one-month LIBOR rate plus 0.78% (1.02% per annum at December 31~~amounts, ~~2009)~~including ~~and~~estimated ~~resets~~costs ~~monthly. The~~associated ~~variable~~with ~~interest~~carrying ~~rate~~out ~~may increase to~~ the ~~one-month LIBOR rate plus 0.98% if the debt service coverage~~ ~~ratio~~liquidation of the ~~investment property decreases below a prescribed threshold~~Partnership. The ~~Secured~~ ~~Credit~~valuation ~~Facility~~of ~~provides~~assets ~~mortgage~~and ~~loans on properties owned by other~~liabilities ~~partnerships~~necessarily ~~that~~requires ~~are~~many ~~affiliated~~estimates ~~with~~and ~~the~~assumptions ~~General Partner. The Secured Credit~~and ~~Facility~~there ~~creates separate loans for each property that~~ are ~~not cross-collateralized~~substantial oruncertainties ~~cross-defaulted~~in ~~with~~carrying out the ~~other property loans~~liquidation. The ~~loans~~actual ~~are~~realization ~~prepayable~~of ~~without~~assets ~~penalty. As~~and asettlement ~~condition~~ of ~~the~~liabilities ~~Secured~~could ~~Credit Facility,~~be ~~the~~higher ~~lender~~or ~~required AIMCO Properties, L.P., an affiliate of the~~lower ~~General~~than ~~Partner,~~amounts toindicated ~~guarantee~~and ~~the~~is ~~obligations~~based ~~and~~upon ~~liabilities~~estimates of the ~~Partnership with respect to the new mortgage financing.The~~ General Partner ~~currently~~as ~~intends to refinance the Partnership’s mortgage~~of ~~indebtedness prior to its maturity on October 1, 2010, otherwise~~ the ~~term~~date of the ~~Secured~~ ~~Credit~~consolidated ~~Facility~~financial ~~will be extended~~statements. ~~If the property cannot be refinanced or sold for a sufficient amount, the Partnership may risk losing such property through foreclosure.~~

~~The Partnership~~In ~~distributed~~accordance with the liquidation ~~following~~basis ~~amounts~~of ~~during~~accounting, ~~the~~at ~~years ended~~ December 31, ~~2009~~2010, assets were adjusted to their estimated net realizable value and ~~2008~~liabilities (were adjusted to their estimated settlement amount. The net adjustment required to convert to the liquidation basis of accounting was a decrease in ~~thousands~~net assets of approximately $64,000, ~~except~~which ~~per~~is ~~unit~~included ~~data):~~in the Consolidated Statements of Changes in Partners’ Capital/Net Assets in Liquidation.

	Year Ended	Per Limited	Year Ended	Per Limited
	December 31,	Partnership	December 31,	Partnership
	2009	Unit	2008	Unit
Refinance (1)	$ 425	$ 22.60	$ 130	$ 6.93

The Partnership distributed the following amounts during the years ended December 31, 2010 and 2009 (in thousands, except per unit data):

(1) Distributions from the September 2007 refinancing of Carriage Hills Apartments.

	Year Ended	Per Limited	Year Ended	Per Limited
	December 31,	Partnership	December 31,	Partnership
	2010	Unit	2009	Unit

Operations	$ 188	$ 9.98	$ --	$ --
Refinance (1)	172	9.13	425	22.60
	$ 360	$ 19.11	$ 425	$ 22.60

~~Subsequent to December 31, 2009, the Partnership distributed approximately $100,000 of September 2007 refinancing proceeds~~ (~~approximately $5.32 per limited partnership unit~~1)~~. Future~~ ~~cash~~Distributions ~~distributions will depend on the levels of net cash generated~~ from ~~operations,~~ the ~~timing~~September of2007 ~~the debt maturity,~~ refinancing ~~and/or~~of ~~property sale. The Partnership's cash available for distribution is reviewed on a monthly basis. There can be no assurance, however, that~~ the ~~Partnership~~mortgage ~~will generate~~encumbering ~~sufficient~~Carriage ~~funds~~Hill ~~from operations, after required capital expenditures, to permit any additional distributions to its partners in 2010 or subsequent periods~~Apartments.

~~Other~~Subsequent to December 31, 2010, the Partnership distributed sale proceeds of approximately $1,420,000 to its limited partners from the December 2010 sale of Carriage Hill Apartments (approximately $76.24 per limited partnership unit). Additionally, in conjunction with the transfer of funds from the majority-owned sub-tier limited partnership, which owned Carriage Hill Apartments, to the Partnership, approximately $13,000 was distributed to the general partner of the majority-owned sub-tier limited partnership subsequent to December 31, 2010.

Critical Accounting Policies and Estimates

A summary of the Partnership’s significant accounting policies is included in "Note AB – Organization and Summary of Significant Accounting Policies" which is included in the consolidated financial statements in "Item 8. Financial Statements and Supplementary Data". The General Partner believes that the consistent application of these policies enables the Partnership to provide readers of the consolidated financial statements with useful and reliable information about the Partnership’s operating results and financial condition. The preparation of of consolidated financial statements in conformity with accounting principles generally accepted in the United States requires the Partnership to make estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities at the date of the financial statements as well as reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. Judgments and assessments of uncertainties are required in applying the Partnership’s accounting policies in many areas. The Partnership believes that of its significant accounting policies, the following may involve a higher degree of judgment and complexity.

Impairment of Long-Lived Asset

Investment property iswas recorded at cost, less accumulated depreciation, unless the carrying amount of the asset iswas not recoverable. If events or circumstances ~~indicate~~indicated that the carrying amount of the property ~~may~~would not be recoverable, the Partnership ~~will~~made ~~make~~ an assessment of its recoverability by comparing the carrying amount to the Partnership’s estimate of the undiscounted future cash flows, excluding interest charges, of the property. If the carrying amount ~~exceeds~~exceeded the estimated ~~aggregate~~ aggregate undiscounted future cash flows, the Partnership would recognize an ~~impairment~~ impairment loss to the extent the carrying amount ~~exceeds~~exceeded the estimated fair value of the property.

Real property investment is subject to varying degrees of risk. Several factors may have adversely ~~affect the~~affected the economic performance and value of the Partnership’s investment property. ~~These~~ These factors ~~include~~included, but ~~are~~were not limited to, general economic climate; ~~competition~~ competition from other apartment communities and other housing options; local conditions, such as loss of jobs or an increase in the supply of apartments that ~~might~~ might have adversely ~~affect~~affected apartment occupancy or rental rates; changes in ~~governmental~~ governmental regulations and the related cost of compliance; increases in operating costs (including real estate taxes) due to inflation and other factors, which may not be have been offset by increased rents; changes in tax laws and housing laws, including the enactment of rent control laws or other laws regulating multi-family housing; and changes in interest rates and the availability of financing. Any adverse changes in these and other factors could ~~cause~~have caused an impairment of the Partnership’s asset.

Revenue Recognition

The Partnership generally ~~leases~~leased apartment units for twelve-month terms or less. The Partnership ~~will~~offered ~~offer~~ rental concessions during particularly slow months or in response to heavy competition from other similar complexes in the area. Rental income attributable to leases, net of any concessions, iswas recognized on a straight-line basis over the term of the lease. The Partnership ~~evaluates~~evaluated all ~~accounts~~ accounts receivable from residents and ~~establishes~~established an allowance, after the application of security deposits, for accounts greater than 30 days past due on current tenants and all receivables due from former tenants.

Item 8. Financial Statements and Supplementary Data

ANGELES PARTNERS X

LIST OF FINANCIAL STATEMENTS

Report of Independent Registered Public Accounting Firm

Consolidated ~~Balance~~Statement ~~Sheets~~of Net Assets in Liquidation - December 31, ~~2009 and 2008~~ 2010.

Consolidated ~~Statements~~Balance ~~of Operations~~Sheet -– ~~Years ended~~ December 31, 2009 ~~and 2008~~.

Consolidated Statements of ~~Changes~~Discontinued inOperations ~~Partners' Deficit~~ - Years ended December 31, ~~2009~~2010 and ~~2008~~2009.

Consolidated Statements of ~~Cash~~Changes ~~Flows~~in Partners' Capital/Net Assets in Liquidation - Years ended December 31, ~~2009~~2010 and ~~2008~~2009.

Consolidated Statements of ~~Notes~~Cash toFlows ~~Consolidated~~- ~~Financial~~Years ~~Statements~~ended December 31, 2010 and 2009.

Notes to Consolidated Financial Statements.

Report of Independent Registered Public Accounting Firm

The Partners

Angeles Partners X

We have audited the ~~accompanying~~ consolidated ~~balance~~statement ~~sheets~~of net assets in liquidation of Angeles Partners X as of ~~December~~ December 31, ~~2009~~2010, ~~and~~the ~~2008~~consolidated balance sheet as of December 31, ~~and~~2009, and the related consolidated statements of discontinued operations, changes in partners'’ ~~deficit~~capital/net assets in liquidation, and cash flows for each of the two years in the period ended December 31, ~~2009~~2010. These financial statements are the responsibility of the Partnership'’s management. Our responsibility is to ~~express~~ express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (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. We were not engaged to perform an audit of the Partnership’s internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Partnership’s internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

InAs ~~our~~discussed ~~opinion,~~in ~~the financial~~Note ~~statements~~A ~~referred~~ to the ~~above~~consolidated ~~present~~financial ~~fairly~~statements, inon ~~all~~December ~~material respects~~31, ~~the~~ ~~consolidated~~2010 ~~financial~~the ~~position~~General Partner of Angeles Partners X atdecided ~~December~~to ~~31,~~liquidate ~~2009 and 2008, and~~ the ~~consolidated~~Partnership. ~~results~~As ofa ~~its~~result, ~~operations~~the Partnership ~~and~~changed its ~~cash~~basis ~~flows for each~~ of ~~the~~accounting ~~two~~as ~~years~~of ~~in the period ended~~ December 31, ~~2009,~~2010 into ~~conformity with~~a ~~U.S.~~liquidation ~~generally accepted accounting principles~~basis.

In our opinion, the financial statements referred to above present fairly, in all material respects, the consolidated net assets in liquidation of Angeles Partners X as of December 31, 2010, the consolidated financial position at December 31, 2009, and the consolidated results of its discontinued operations and its cash flows for each of the two years in the period ended December 31, 2010, in conformity with U.S. generally accepted accounting principles applied on the bases described in the preceding paragraph.

/s/ ERNST & YOUNG LLP

Greenville, South Carolina

March 2928, ~~2010~~2011

ANGELES PARTNERS X

CONSOLIDATED ~~BALANCE~~STATEMENT ~~SHEETS~~OF NET ASSETS IN LIQUIDATION

(Liquidation Basis)

(in thousands)

December 31, 2010

Assets
Cash and cash equivalents	$ 1,859
Due from General Partner (Note I)	154
Receivables	19
	2,032

Liabilities
Accounts payable	111
Other liabilities	25
Taxes payable (Note E)	235
Estimated costs to liquidate (Note C)	64
	435

Net assets in liquidation	$ 1,597

See Accompanying Notes to Consolidated Financial Statements

ANGELES PARTNERS X

CONSOLIDATED BALANCE SHEET

(in thousands, except unit data)

	Years Ended December 31,
Assets	2009	2008
Cash and cash equivalents	$ 171	$ 184
Receivables and deposits	55	13
Other assets	51	96
Investment property (Notes B and E):
Land	101	101
Buildings and related personal property	7,290	7,109
	7,391	7,210
Less accumulated depreciation	(6,049)	(5,839)
	1,342	1,371
	$ 1,619	$ 1,664
Liabilities and Partners' Deficit
Liabilities
Accounts payable	$ 15	$ 10
Tenant security deposit liabilities	28	31
Accrued property taxes	62	57
Other liabilities	132	80
Due to affiliates (Note D)	--	9
Mortgage note payable (Note B)	5,360	5,360
	5,597	5,547
Partners' Deficit
General partners	(232)	(231)
Limited partners (18,625 units issued and
outstanding)	(3,746)	(3,652)
	(3,978)	(3,883)
	$ 1,619	$ 1,664

December 31, 2009

Assets Held for Sale:
Cash and cash equivalents	$ 171
Receivables and deposits	55
Other assets	51
Investment property (Note H):
Land	101
Buildings and related personal property	7,290
	7,391
Less accumulated depreciation	(6,049)
	1,342
	$ 1,619

Liabilities and Partners' Deficit
Liabilities related to Assets Held for Sale:
Accounts payable	$ 15
Tenant security deposit liabilities	28
Accrued property taxes	62
Other liabilities	132
Mortgage note payable (Note D)	5,360
	5,597

Partners' Deficit
General partners	(232)
Limited partners	(3,746)
	(3,978)
	$ 1,619

See Accompanying Notes to Consolidated Financial Statements

ANGELES PARTNERS X

CONSOLIDATED STATEMENTS OF DISCONTINUED OPERATIONS

(in thousands, except per unit data)

	Years Ended December 31,
	2009	2008
	2010	2009
Income from continuing operations	$ --	$ --
Income from discontinued operations:
Revenues:
Rental income	$ 1,~~451~~417	$ 1,~~409~~451
Other income	~~137~~129	~~141~~137
Total revenues	1,~~588~~546	1,~~550~~588
Expenses:
Operating	~~666~~749	~~652~~666
General and administrative	79173	~~122~~79
Depreciation	~~210~~200	~~199~~210
Interest	~~102~~94	~~240~~102
Property taxes	~~201~~196	~~192~~201
Total expenses	1,258	1,405
Loss on extinguishment of debt (Notes D and H)	10	--
Net income (Note C)	$ 330	$ 145
Total expenses	1,422	1,258
Net income allocated to general partners (1%)	$ 3	$ 1
Casualty gain (Note G)	25	--
Net income allocated to limited partners (99%)	327	144
Income from discontinued operations	149	330
	$ 330	$ 145
Gain from sale of discontinued operations (Note H)	5,332	--
Net income per limited partnership unit	$ 17.56	$ 7.73
Net income (Note E)	$ 5,481	$ 330
Distributions per limited partnership unit	$ 22.60	$ 6.93
Net income allocated to general partners	$ 55	$ 3
Net income allocated to limited partners	5,426	327
	$ 5,481	$ 330
Per limited partnership unit:
Income from discontinued operations	$ 7.89	$ 17.56
Gain from sale of discontinued operations	283.52	--
Net income	$291.41	$ 17.56
Distributions per limited partnership unit	$ 19.11	$ 22.60

See Accompanying Notes to Consolidated Financial Statements

ANGELES PARTNERS X

CONSOLIDATED STATEMENTS OF CHANGES IN PARTNERS' ~~DEFICIT~~CAPITAL/NET ASSETS IN LIQUIDATION

(in thousands, except unit data)

	Limited
	Partnership	General	Limited
	Units	Partners	Partners	Total
Original capital contributions	18,714	$ 1	$18,714	$18,715
Partners' deficit
at December 31, 2007	18,625	$ (231)	$(3,667)	$(3,898)
at December 31, 2008	18,625	$ (231)	$(3,652)	$(3,883)
Distributions to partners	--	(14)	(~~129~~421)	(~~130~~425)
Net income for the year
ended December 31, 2008	--	1	144	145
ended December 31, 2009	--	3	327	330
Partners’ deficit
at December 31, 2008	18,625	(231)	(3,652)	(3,883)
at December 31, 2009	18,625	(232)	(3,746)	(3,978)
Distributions to partners	--	(4)	(421)	(425)
Abandonment of limited partnership
units (Note B)	(5)	--	--	--
Deficit restoration contribution due
from General Partner (Note I)	--	154	--	154
Return of distributions (Note F)	--	364	--	364
Distributions to partners	--	(4)	(356)	(360)
Net income for the year ended
December 31, 2009	--	3	327	330
December 31, 2010	--	55	5,426	5,481
Partners’ deficit at
Partners’ capital at
December 31, 2009	18,625	$ (232)	$(3,746)	$(3,978)
December 31, 2010	18,620	$ 337	$ 1,324	1,661
Adjustment to liquidation basis
(Notes A and C)				(64)
Net assets in liquidation at
December 31, 2010				$ 1,597

See Accompanying Notes to Consolidated Financial Statements

ANGELES PARTNERS X

CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

	Years Ended December 31,
	2009	2008
	2010	2009
Cash flows from operating activities:
Net income	$ ~~330~~5,481	$ ~~145~~330
Adjustments to reconcile net income to net cash
Adjustments to reconcile net income to net cash provided
provided by operating activities:
by operating activities:
Depreciation	~~210~~200	~~199~~210
Amortization of loan costs	4135	41
Casualty gain	(25)	--
Gain from sale of discontinued operations	(5,332)	--
Loss on extinguishment of debt	10	--
Change in accounts:
Receivables and deposits	~~(42)~~36	6(42)
Other assets	420	74
Accounts payable	562	~~(4)~~5
Tenant security deposit liabilities	(328)	--(3)
Accrued property taxes	5(62)	45
Due to affiliates	~~(9)~~--	(9)
Other liabilities	52(64)	~~(20)~~52
Net cash provided by operating activities	~~593~~333	~~387~~593
Cash flows used in investing activities:
Cash flows from investing activities:
Property improvements and replacements	(~~181~~209)	(~~217~~181)
Cash flows used in financing activities:
Net proceeds from sale of discontinued operations	6,909	--
Distributions to partners	(425)	(130)
Insurance proceeds received	25	--
Net (decrease) increase in cash and cash equivalents	(13)	40
Net cash provided by (used in) investing activities	6,725	(181)
Cash and cash equivalents at beginning of year	184	144
Cash flows from financing activities:
Cash and cash equivalents at end of year	$ 171	$ 184
Repayment of mortgage note payable	(5,360)	--
Advances from affiliate	113	--
Repayment of advances from affiliate	(113)	--
Loan costs paid	(14)	--
Distributions returned from general partner	364	--
Distributions to partners	(360)	(425)
Net cash used in financing activities	(5,370)	(425)
Net increase (decrease) in cash and cash equivalents	1,688	(13)
Cash and cash equivalents at beginning of year	171	184
Cash and cash equivalents at end of year	$ 1,859	$ 171
Supplemental disclosure of cash flow information:
Cash paid for interest	$ 5764	$ ~~227~~57
Supplemental disclosure of non-cash activity:
Property improvements and replacements included in
accounts payable	$ 14	$ --
Deficit restoration contribution receivable from
General Partner	$ 154	$ --

See Accompanying Notes to Consolidated Financial Statements

ANGELES PARTNERS X

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

December 31, ~~2009~~2010

Note A -– ~~Organization~~Basis ~~and Summary~~ of ~~Significant Accounting Policies~~ Presentation

~~Organization:~~As of December 31, 2010, Angeles Partners X (the ~~"Registrant"~~ “Partnership” or ~~"Partnership"~~“Registrant”) isadopted ~~a publicly-held limited partnership organized under~~ the ~~California Uniform Limited Partnership Act pursuant to a Certificate~~liquidation ~~and~~basis ~~Amended Agreement~~ of ~~Limited~~accounting ~~Partnership~~due ~~(hereinafter referred~~ to as the ~~"Partnership~~ ~~Agreement")~~sale ~~dated June 24, 1980. The general partner responsible for management~~ of ~~the~~its ~~Partnership's~~remaining ~~business~~investment isproperty ~~Angeles Realty Corporation~~ (~~"ARC"), a California corporation (hereinafter referred to~~ as ~~the~~ ~~"General~~discussed ~~Partner"). The~~in ~~General~~“Note ~~Partner~~H is– aDisposition ~~wholly-owned subsidiary~~ of ~~Apartment~~ Investment ~~and Management Company ("AIMCO"~~Property“)~~, a publicly traded real estate investment trust~~. The Non-Managing General Partner is AIMCO Properties, L.P., a wholly-owned subsidiary of AIMCO. The General Partner and the Non-Managing General Partner are herein collectively referred to as the "General Partners". The Partnership Agreement provides that the Partnership is to terminate on December 31, 2035 unless terminated prior to such date. The Partnership commenced operations on May 12, 1981, and completed its acquisition of properties during 1982. The Partnership operates one apartment property located in Michigan.

~~Subsequent~~As ~~Events:~~a ~~The~~result of the decision to liquidate the Partnership’s, ~~management~~the ~~evaluated~~Partnership changed its basis of accounting ~~subsequent~~for ~~events~~its ~~through~~consolidated financial statements at December 31, 2010 to the liquidation ~~time~~basis ~~this~~of ~~Annual~~accounting. ~~Report~~Consequently, onassets ~~Form~~have ~~10-K~~been ~~was~~valued at ~~filed~~estimated net realizable value and liabilities are presented at their estimated settlement amounts, including estimated costs associated with carrying out the liquidation of the Partnership. The valuation of assets and liabilities necessarily requires many estimates and assumptions and there are substantial uncertainties in carrying out the liquidation. The actual realization of assets and settlement of liabilities could be higher or lower than amounts indicated and is based upon the general partner’s estimates as of the date of the consolidated financial statements.

~~Principles~~Angeles ~~of Consolidation:~~Realty ~~The consolidated financial~~Corporation, ~~statements~~a ~~include~~California ~~all~~corporation ~~the~~(“ARC” ~~accounts~~or of the ~~Partnership~~“General ~~and~~Partner”) ~~its~~estimates ~~99%~~that ~~limited~~the ~~partnership~~liquidation ~~interest~~process inwill ~~Carriage~~be APcompleted Xby ~~Ltd.~~December ~~The~~31, ~~general~~2011. ~~partner~~Because of the success ~~consolidated~~in ~~partnership~~realization isof ~~Angeles~~assets ~~Realty~~and ~~Corporation.~~the ~~Angeles~~settlement ~~Realty Corporation~~of ~~may~~liabilities beis ~~removed~~based ason the General ~~general~~Partner’s ~~partner~~best ofestimates, the ~~consolidated partnership~~liquidation byperiod ~~the~~may ~~Partnership;~~be ~~therefore,~~shorter ~~the~~than projected ~~consolidated~~or ~~partnership~~it ~~is controlled~~may ~~and~~be ~~consolidated~~extended bybeyond the ~~Partnership. All~~projected ~~significant interpartnership balances have been eliminated~~period.

~~Allocations~~The toaccompanying ~~Partners: Net~~consolidated ~~income~~statements ~~(other than~~of ~~that~~discontinued ~~arising~~operations ~~from~~for the ~~occurrence~~years ofended aDecember 31, ~~sale~~2010 ~~or disposition)~~ and ~~net~~2009 ~~loss shall~~reflect ~~be allocated 1% to~~ the ~~General~~operations ~~Partners~~of ~~and~~Carriage ~~99%~~Hill toApartments ~~the~~as ~~Limited~~income ~~Partners. Gains~~ from ~~the~~discontinued ~~sale~~operations orand ~~other~~the ~~disposition~~balance sheet as of ~~assets~~December ~~shall~~31, be2009 ~~allocated~~reflects asthe ~~follows:~~assets ~~first,~~and toliabilities ~~the~~of ~~General~~Carriage ~~Partner~~Hill toApartments ~~the~~as ~~extent~~held offor ~~any~~sale ~~incentive distribution,~~ as ~~defined~~a inresult of the ~~Partnership~~sale ~~Agreement,~~of ~~to which~~ the ~~General~~ ~~Partner~~property ison ~~entitled;~~December ~~second~~28, to2010, ~~the~~(as ~~partners~~discussed in ~~proportion to their~~ ~~interests~~“Note ~~in the Partnership~~H”).

ExceptNote asB discussed- below, theOrganization Partnership will allocate distributions 1% to the General Partners and 99% toSummary theof LimitedSignificant Partners.Accounting Policies

~~Upon~~Organization: ~~the~~The ~~sale~~Partnership oris ~~other~~a ~~disposition,~~publicly-held orlimited ~~refinancing,~~partnership oforganized ~~any~~under ~~asset of~~ the ~~Partnership~~California ~~other~~Uniform ~~than in~~Limited ~~connection with the dissolution of the~~ Partnership, ~~the~~Act ~~Distributable~~pursuant ~~Net Proceeds~~to ~~thereof,~~a ifCertificate ~~any,~~and ~~which~~Amended ~~the~~Agreement ~~General~~of ~~Partner determines are not required~~Limited ~~for~~Partnership ~~support~~(hereinafter ofreferred ~~the~~to ~~operations~~as of the "Partnership ~~must be distributed: (i~~Agreement") ~~first,~~dated June to24, ~~the~~1980. ~~General~~The ~~Partners~~general ~~and~~partner ~~the~~responsible ~~Limited~~for ~~Partners~~management inof ~~proportion to their interests in~~ the Partnership,'s business ~~until~~is ~~all~~Angeles ~~Limited~~Realty ~~Partners~~Corporation. ~~have~~ARC ~~received distributions~~is ~~equal~~a towholly-owned ~~their~~subsidiary ~~Original~~of Apartment ~~Capital~~ Investment ~~Applicable~~and toManagement ~~the Disposition~~Company ~~plus their 6% additional Cumulative Distribution;~~ (ii"AIMCO") ~~second~~, ~~to the~~a ~~General~~publicly ~~Partner~~traded inreal estate aninvestment ~~amount~~trust. The ~~equal~~non-managing togeneral 4%partner ofis ~~the~~AIMCO Properties, ~~aggregate~~L.P. ~~sales~~(an ~~price~~affiliate of ~~the property ("Incentive Distribution"~~AIMCO);. ~~(iii)~~The ~~third, to the~~ General ~~Partners~~Partner and the non-managing ~~Limited~~general ~~Partners~~partner inare ~~proportion~~herein tocollectively ~~their~~referred ~~interests~~to inas the ~~Partnership until~~"General ~~all Limited~~ Partners". The ~~shall~~Partnership ~~have~~Agreement ~~received~~provides ~~their~~that ~~additional 4% Cumulative Distribution; and (iv) thereafter,~~ the ~~remaining~~Partnership ~~proceeds~~is ~~of the disposition shall be distributed eighty-eight percent (88%)~~ to ~~the~~ ~~Limited~~terminate ~~Partners~~on inDecember ~~proportion to their interests in the Partnership~~31, ~~and~~2035 ~~twelve percent~~unless ~~(12%)~~terminated prior to ~~the~~such ~~General Partners~~date.

~~Recent~~Subsequent ~~Accounting Pronouncement~~Events: ~~In June 2009, the Financial Accounting Standards Board (“FASB”) issued Statement of Financial Accounting Standards No. 168,~~ The ~~FASB~~Partnership’s ~~Accounting~~management ~~Standards Codification and~~evaluated ~~the~~subsequent ~~Hierarchy~~events ofthrough Generally Accepted Accounting Principles—a replacement of FASB Statement No. 162, or SFAS No. 168, which is effective for financial statements issued for interim and annual periods ending after September 15, 2009. Upon the ~~effective~~time ~~date~~this ofAnnual ~~SFAS~~Report ~~No.~~on ~~168,~~Form the FASB Accounting Standards Codification, or the FASB ASC, became the single source of authoritative GAAP recognized by the FASB to be applied by nongovernmental entities. Rules and interpretive releases of the Securities and Exchange Commission, or SEC, under authority of federal securities laws are also sources of authoritative GAAP for SEC registrants. The FASB ASC superseded all then10-~~existing~~K ~~non-SEC accounting and reporting standards, and all other~~was ~~non-grandfathered non-SEC accounting literature not included in the FASB ASC is now non-authoritative~~filed. ~~Subsequent to the effective date of SFAS No. 168, the FASB will issue Accounting Standards Updates that serve to update the FASB ASC.~~

~~Depreciation~~Reclassifications: ~~Depreciation~~ Certain isreclassifications ~~provided~~have bybeen made ~~the~~to ~~straight-line method over~~ the ~~estimated~~2009 ~~lives~~balances ~~of the~~to ~~apartment~~conform ~~property~~to ~~and related personal property. For Federal income tax purposes,~~ the ~~modified~~2010 ~~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~~presentation.

~~Cash~~Principles ~~and~~of ~~Cash Equivalents~~Consolidation: The ~~Cash~~consolidated ~~and~~financial ~~cash~~statements ~~equivalents~~ include ~~cash~~all onthe ~~hand~~accounts of the Partnership and inits ~~banks. At~~99% ~~certain~~limited ~~times,~~partnership ~~the~~interest ~~amount~~in ofCarriage ~~cash deposited~~AP atX aLtd. ~~bank~~The ~~may~~general ~~exceed~~partner of the consolidated ~~limit~~partnership onis ~~insured~~Angeles ~~deposits~~Realty Corporation. ~~Cash~~ Angeles Realty ~~balances~~Corporation ~~include~~may ~~approximately~~be ~~$132,000~~removed ~~and~~as ~~$140,000~~the atgeneral ~~December~~partner ~~31,~~of ~~2009~~the ~~and~~consolidated ~~2008,~~partnership ~~respectively~~by ~~that~~the ~~are~~Partnership; ~~maintained~~therefore, bythe anconsolidated ~~affiliated~~partnership ~~management~~is controlled ~~company~~and ~~on behalf~~consolidated ofby ~~affiliated~~the ~~entities~~Partnership. All insignificant interpartnership ~~cash~~balances ~~concentration~~have ~~accounts~~been eliminated.

~~Tenant~~Allocations ~~Security~~to ~~Deposits~~Partners: ~~The~~ Net ~~Partnership~~income ~~requires~~(other than ~~security~~that ~~deposits~~arising from ~~lessees~~the ~~for~~occurrence of a sale or disposition) and net loss shall be allocated 1% to the ~~duration~~General ofPartners and 99% to the Limited ~~lease~~Partners. ~~The~~ Gains ~~security~~from ~~deposits~~the ~~are~~sale ~~refunded~~or ~~when~~other ~~the~~disposition ~~tenant~~of ~~vacates,~~assets shall be ~~provided~~allocated as follows: first, to the ~~tenant~~General ~~has~~Partner ~~not~~to ~~damaged~~the extent of any incentive distribution, as defined in the ~~unit~~Partnership ~~and~~Agreement, to which the General Partner is ~~current~~entitled; onsecond, ~~rental~~to the partners in proportion to their ~~payments~~interests in the Partnership.

~~Investment Property: Investment~~Except ~~property~~as ~~consists~~discussed ~~of one apartment complex and is stated at cost~~below, ~~less accumulated depreciation, unless~~ the ~~carrying amount of the asset is not recoverable. The~~ Partnership ~~capitalizes~~will ~~costs~~allocate ~~incurred~~distributions in1% ~~connection~~to with capital expenditure activities, including redevelopment and construction projects, other tangible property improvements and replacements of existing property components. Costs, including interest, property taxes and operating costs, associated with redevelopment and construction projects are capitalized during periods in which redevelopment and construction projects are in progress. Costs incurred in connection with capital projects are capitalized where the ~~costs~~General ofPartners ~~the project exceed $250. Included in these capitalized costs are payroll costs associated with time spent by site employees in connection with the planning, execution~~ and ~~control of all capital expenditure~~99% ~~activities at the property level. The Partnership did not capitalize any costs related~~ to ~~interest, property taxes or operating costs during~~ the ~~years~~Limited ~~ended December 31, 2009 and 2008~~Partners. ~~Capitalized costs are depreciated over the useful life of the asset. Expenditures for ordinary repairs, maintenance and apartment turnover costs are expensed as incurred.~~

IfUpon ~~events~~the sale or ~~circumstances~~other ~~indicate~~disposition, ~~that~~or ~~the~~refinancing, ~~carrying~~of ~~amount~~any asset of the ~~property~~Partnership ~~may~~other ~~not~~than bein connection ~~recoverable~~with the dissolution of the Partnership, the Distributable Net ~~Partnership~~Proceeds ~~will~~thereof, ~~make~~if anany, ~~assessment~~which ofthe ~~its~~General ~~recoverability~~Partner bydetermines ~~comparing~~are ~~the~~not required ~~carrying~~for ~~amount~~support toof the ~~Partnership’s~~operations ~~estimate~~ of the ~~undiscounted~~Partnership ~~future~~must ~~cash flows,~~be ~~excluding~~distributed: ~~interest~~(i) ~~charges~~first, to ofthe General Partners and the ~~property.~~Limited IfPartners in proportion to their interests in the ~~carrying~~Partnership, ~~amount~~until all Limited Partners have received ~~exceeds~~distributions equal to their Original Capital Investment Applicable to the Disposition ~~estimated~~plus ~~aggregate~~their ~~undiscounted~~6% ~~future~~additional ~~cash~~Cumulative ~~flows~~Distribution; (ii) second, to the ~~Partnership would~~General ~~recognize~~Partner in an ~~impairment~~amount ~~loss~~equal to 4% of the ~~extent~~aggregate sales price of the property ~~carrying~~("Incentive ~~amount~~Distribution"); ~~exceeds~~(iii) third, to the ~~estimated~~General ~~fair~~Partners ~~value~~and the ofLimited Partners in proportion to their interests in the ~~property.~~Partnership Nountil ~~adjustments~~all ~~for~~Limited ~~impairment~~Partners shall have received their additional 4% Cumulative Distribution; and (iv) thereafter, the remaining proceeds of ~~value~~the ~~were~~disposition shall ~~necessary~~be ~~for~~distributed eighty-eight percent (88%) to the ~~years~~Limited ~~ending~~Partners ~~December~~in ~~31,~~proportion ~~2009~~to their interests in the Partnership, and ~~2008~~twelve percent (12%) to the General Partners.

~~Deferred Costs~~Depreciation: ~~Loan costs of~~ ~~approximately~~Depreciation ~~$123,000,~~was ~~less~~provided ~~accumulated~~by ~~amortization~~the ofstraight-line ~~approximately~~method ~~$92,000 and~~over ~~$51,000~~the asestimated lives of ~~December~~the ~~31,~~apartment ~~2009~~property and ~~2008,~~related ~~respectively,~~personal ~~are included in other assets on the accompanying consolidated balance sheets~~property. ~~Loan~~For ~~costs~~Federal ~~are~~income tax ~~amortized~~purposes, ~~over~~ the ~~term~~modified ofaccelerated ~~the~~cost ~~related~~recovery ~~loan~~method ~~agreement.~~was ~~Amortization~~used ~~expense~~ for ~~both~~depreciation ~~the~~of ~~years~~(1) ~~ended~~real ~~December~~property ~~31,~~over ~~2009~~27 ~~and~~1/2 ~~2008~~years ~~was approximately $41,000~~ and ~~is included~~(2) inpersonal ~~interest expense. Amortization expense is expected to be~~property ~~approximately~~additions ~~$31,000~~over in5 ~~2010~~years.

~~Leasing~~Cash ~~commissions~~and Cash Equivalents: Cash and cash equivalents ~~other~~include ~~direct~~cash ~~costs~~on ~~incurred~~hand and in ~~connection~~banks. At ~~with~~certain ~~successful~~times, ~~leasing~~the ~~efforts~~amount ~~are~~of cash ~~deferred~~deposited ~~and~~at ~~amortized~~a ~~over~~bank ~~the~~may ~~terms~~exceed of the ~~related~~limit ~~leases~~on insured deposits. ~~Amortization~~Cash ofbalances ~~these~~include ~~costs~~approximately is$1,853,000 ~~included~~and $132,000 at December 31, 2010 and 2009, respectively that are maintained by an affiliated management company on behalf of affiliated entities in ~~operating~~cash ~~expenses~~concentration accounts.

~~Leases~~Tenant Security Deposits: The Partnership ~~generally~~ ~~leases~~required ~~apartment~~security ~~units~~deposits ~~for~~from ~~twelve-month~~lessees ~~terms~~for orthe ~~less. The Partnership~~duration ~~will~~of ~~offer rental concessions during particularly slow months or in~~the ~~response~~lease toand ~~heavy~~such ~~competition~~deposits ~~from~~are ~~other~~included ~~similar complexes~~ in ~~the~~receivables ~~area. Rental~~and ~~income~~deposits ~~attributable~~at toDecember ~~leases~~31, 2009. ~~net~~The ofsecurity ~~any~~deposits ~~concessions,~~were isrefunded ~~recognized~~when ~~on a straight-line basis over~~ the ~~term~~tenant ofvacated the ~~lease. The Partnership evaluates~~property, ~~all~~provided ~~accounts~~the ~~receivable~~tenant ~~from~~had ~~residents~~not ~~and~~damaged ~~establishes an allowance, after~~ the ~~application~~ ofunit ~~security~~and ~~deposits,~~was ~~for~~current ~~accounts greater than 30 days past due~~ on ~~current~~ ~~tenants and all receivables due from former tenants~~rental payments.

~~Use~~Investment Property: Investment property consisted of one apartment complex and was stated at cost, ~~Estimates: The~~less ~~preparation~~accumulated depreciation, unless the carrying amount of the asset was not ~~consolidated~~recoverable. ~~financial~~The ~~statements~~Partnership capitalized costs incurred in ~~conformity~~connection with capital ~~accounting~~additions ~~principles~~activities, including redevelopment and construction projects, ~~generally~~other ~~accepted~~tangible property improvements and replacements of existing property components. Included in ~~the~~these ~~United~~capitalized ~~States~~costs ~~requires~~were ~~management~~payroll tocosts ~~make~~associated ~~estimates~~with time spent by site employees in connection with the planning, execution and ~~assumptions~~control ~~that~~of ~~affect~~all capital additions activities at the ~~amounts~~property ~~reported~~level. The Partnership capitalized interest, property taxes and insurance during periods in ~~the~~which ~~consolidated~~redevelopment ~~financial~~and construction projects were ~~statements~~in progress. The Partnership did not capitalize any costs related to interest, property taxes or insurance during the years ended December 31, 2010 and ~~accompanying~~2009. Capitalized ~~notes~~costs were depreciated over the estimated useful life of the asset. ~~Actual~~ The ~~results~~Partnership ~~could~~charged ~~differ~~to ~~from~~expense ~~those~~as incurred costs that did not relate to ~~estimates~~capital additions activities, including ordinary repairs, maintenance and resident turnover costs.

~~Fair~~If ~~Value~~events ofor ~~Financial~~circumstances ~~Instruments: FASB~~indicated ~~ASC~~that ~~Topic~~the ~~825, “Financial~~carrying ~~Instruments”,~~amount ~~requires disclosure~~ of ~~fair~~the ~~value~~property ~~information~~was ~~about financial~~not ~~instruments~~recoverable, ~~whether~~the Partnership ormade ~~not~~an ~~recognized~~assessment inof ~~the~~its ~~balance~~recoverability ~~sheet,~~by ~~for~~comparing ~~which~~the carrying itamount isto ~~practicable~~the toPartnership’s estimate ~~fair~~of ~~value. Fair~~the ~~value~~undiscounted isfuture ~~defined~~cash ~~as the~~flows, ~~amount~~excluding atinterest ~~which~~charges, of the ~~instruments~~property. ~~could~~If bethe ~~exchanged~~carrying inamount aexceeded ~~current transaction~~the ~~between~~estimated ~~willing~~aggregate ~~parties,~~undiscounted ~~other~~future ~~than~~cash inflows, athe ~~forced~~Partnership orwould recognize ~~liquidation~~an ~~sale.~~impairment ~~The Partnership~~loss ~~believes~~to ~~that~~the extent the carrying ~~amounts~~amount ofexceeded ~~its financial instruments~~the ~~including~~estimated ~~the~~fair ~~mortgage~~value ~~note~~of ~~payable,~~the ~~which~~property. ~~matures~~No inadjustments ~~2010,~~for ~~approximates~~impairment ~~their fair~~of value were ~~due~~necessary tofor the ~~short~~years ~~term~~ending ~~maturity~~December of31, ~~these~~2010 ~~instruments.~~and 2009.

~~Segment~~Abandoned ~~Reporting~~Units: ~~FASB~~During ~~ASC Topic 280-10~~2010, ~~“Segment Reporting”, established standards for~~ the ~~way that~~number ~~public~~of ~~business~~limited ~~enterprises~~partnership ~~report~~units ~~information~~decreased ~~about~~by ~~operating~~5 ~~segments~~units ~~in annual~~due ~~financial statements and requires that those enterprises report selected~~to ~~information~~limited ~~about~~partners ~~operating~~abandoning ~~segments~~their ~~in interim financial reports~~units. ~~FASB~~In ~~ASC Topic~~abandoning ~~280-10~~his ~~also~~or ~~established~~her ~~standards~~units, ~~for~~a limited ~~related~~partner ~~disclosures~~relinquishes ~~about~~all ~~products and services~~right, ~~geographic~~title ~~areas,~~ and ~~major~~interest ~~customers. As defined~~ in ~~FASB ASC Topic 280-10,~~ the Partnership ~~has~~as of ~~only~~the ~~one~~date ~~reportable~~of ~~segment~~the abandonment.

~~Advertising~~Deferred Costs: ~~The~~Loan ~~Partnership~~costs of ~~expenses~~approximately $123,000, less accumulated amortization of approximately $92,000 were included in other assets at December 31, 2009 and were being amortized over the ~~costs~~term of ~~advertising~~the asrelated ~~incurred~~loan agreement. ~~Advertising~~ During the year ended December 31, 2010, loan costs of approximately $14,000 were incurred associated with extension of the mortgage maturity date during 2010. Amortization expense for the years ended December 31, 2010 and 2009 was approximately $3335,000 and $3241,000, ~~for~~respectively, and was included in interest expense. During the ~~years~~year ended December 31, ~~2009~~2010, loan costs of approximately $137,000 and amortization ~~2008,~~of ~~respectively~~approximately $127,000 ~~are~~were ~~included~~written off in ~~operating~~connection ~~expenses~~with the sale of the property resulting in a $10,000 loss on debt extinguishment.

~~Note~~Leasing Bcommissions -and other ~~Mortgage~~direct ~~Note~~costs incurred in connection with successful leasing efforts were ~~Payable~~deferred and amortized over the terms of the related leases. Amortization of these costs is included in operating expenses.

	Principal			Principal
	Balance At			Balance
	December 31,	Interest	Maturity	Due At
Property	2009	Rate	Date	Maturity
	(in thousands)			(in thousands)
Carriage Hills
Apartments
1st mortgage	$5,360	(1)	10/01/10	$5,360

Leases: The Partnership generally leased apartment units for twelve-month terms or less. The Partnership offered rental concessions during particularly slow months or in response to heavy competition from other similar complexes in the area. Rental income attributable to leases, net of any concessions, was recognized on a straight-line basis over the term of the lease. The Partnership evaluated all accounts receivable from residents and established an allowance, after the application of security deposits, for accounts greater than 30 days past due on current tenants and all receivables due from former tenants.

~~(1) Adjustable~~Use of ~~rate~~Estimates: The ~~based~~preparation onof consolidated ~~the~~financial ~~one-month~~statements ~~LIBOR~~in ~~rate~~conformity ~~plus~~with ~~0.78%~~accounting toprinciples generally ~~0.98%~~accepted ~~depending~~in ~~upon~~the United States requires management to make estimates ~~certain~~and ~~performance~~assumptions ~~criteria.~~that ~~The~~affect ~~rate~~the atamounts ~~December~~reported ~~31,~~in ~~2009~~the ~~was~~consolidated financial 1statements and accompanying notes.~~02%~~ Actual results could differ from those estimates.

~~The mortgage~~Segment ~~indebtedness encumbering Carriage Hills Apartments of $5,360,000 was refinanced~~Reporting: ~~during~~Financial ~~2007~~Accounting ~~under~~Standards aBoard ~~secured~~Accounting ~~real~~Standards ~~estate~~Codification ~~credit facility~~ (“~~Secured Credit Facility~~ASC”) ~~with AEGON USA Realty Advisors, Inc., as agent for Transamerica~~ ~~Occidental~~Topic ~~Life Insurance Company~~280-10, ~~which~~“Segment ~~has a maturity of October 1~~Reporting”, ~~2010. AIMCO~~established ~~Properties,~~standards ~~L.P.~~for ~~has~~ the ~~option~~way tothat ~~extend the Secured Credit Facility by~~public ~~two~~business ~~one-year~~enterprises ~~extensions~~report ifinformation noabout ~~event~~operating ofsegments ~~default~~in ~~exists under the Secured Credit~~annual ~~Facility.~~financial ~~The~~statements ~~new~~and ~~mortgage~~ requires ~~monthly~~that ~~payments~~those ofenterprises ~~interest~~report ~~only beginning~~selected oninformation ~~November~~about 1,operating ~~2007,~~segments ~~through~~in ~~the~~interim ~~October~~financial ~~1, 2010 maturity date, at which date the entire principal balance of $5,360,000 is due~~reports. ~~The~~ ~~new~~ASC ~~loan has a~~Topic ~~variable interest rate of the one~~280-~~month~~10 ~~LIBOR~~also ~~rate~~established ~~plus~~standards ~~0.78%~~for ~~(1.02%~~related ~~per~~disclosures ~~annum at~~about ~~December~~products ~~31, 2009)~~ and resets monthly. The variable interest rate may increase to the one-month LIBOR rate plus 0.98% if the debt service coverage ratio of the investment property decreases below a prescribed threshold. The Secured Credit Facility provides mortgage loans on properties owned by other partnerships that are affiliated with the General Partner. The Secured Credit Facility creates separate loans for each property that are not cross-collateralized or cross-defaulted with the other property loans. The loans are prepayable without penalty. As a condition of the Secured Credit Facilityservices, ~~the~~geographic ~~lender required AIMCO Properties~~areas, ~~L.P., an affiliate of the General Partner, to guarantee the obligations~~ and ~~liabilities~~major ~~of the Partnership with respect to the new mortgage financing~~customers. ~~The~~As ~~General Partner currently intends to refinance the~~defined ~~Partnership’s~~in ~~mortgage~~ASC ~~indebtedness~~Topic ~~prior to its maturity on October 1~~280-10, ~~2010, otherwise~~ the ~~term~~Partnership ofhas ~~the~~only ~~Secured~~one ~~Credit~~reportable ~~Facility will be extended~~segment.

Advertising Costs: The ~~mortgage~~Partnership expensed ~~note~~the ~~payable~~costs isof ~~non-recourse~~advertising ~~and is~~as ~~secured~~incurred. Advertising bycosts ~~a pledge~~ of approximately ~~the~~$34,000 ~~apartment~~and ~~property~~$33,000 ~~and~~for ~~revenues~~the ~~generated~~years byended ~~the property.~~December ~~Further~~31, ~~the~~2010 ~~property~~and 2009, ~~may~~respectively, ~~not~~are beincluded ~~sold~~in ~~subject~~operating ~~to existing indebtedness~~expenses.

Note C -– ~~Income~~Adjustment to Liquidation Basis of ~~Taxes~~Accounting

~~Taxable~~At ~~income~~December or31, ~~loss~~2010, ofin accordance with the ~~Partnership~~liquidation isbasis ~~reported~~of inaccounting, ~~the~~assets ~~income~~were ~~tax~~adjusted ~~returns~~to their ofestimated ~~its~~net ~~partners~~realizable value and liabilities were adjusted to their estimated settlement amount. The net adjustment required to convert to the ~~Accordingly,~~liquidation nobasis ~~provision~~of ~~for~~accounting ~~income~~was ~~taxes~~a decrease in net assets of approximately $64,000, which is ~~made~~included in the ~~consolidated~~Consolidated ~~financial statements~~Statements of ~~the~~Changes ~~Partnership~~in Partners’ Capital/Net Assets in Liquidation.

~~The~~Note ~~following~~D is– ~~a reconciliation~~Mortgage ~~of reported net income and Federal taxable income (in~~Note ~~thousands):~~Payable

	2009	2008
Net income as reported	$ 330	$ 145
Add (deduct):
Depreciation differences	26	15
Unearned income	2	19
Other	(41)	37
Federal taxable income	$ 317	$ 216
Federal taxable income per
limited partnership unit	$ 16.84	$ 11.48

The mortgage indebtedness that encumbered Carriage Hill Apartments of approximately $5,360,000 was refinanced during 2007 under a secured real estate credit facility (“Secured Credit Facility”) which had a maturity date of October 1, 2010. On July 31, 2010, AIMCO Properties, L.P. exercised its option to extend the maturity date of the Secured Credit Facility to October 1, 2011. In addition, AIMCO Properties, L.P. paid an extension fee of approximately $86,000, approximately $14,000 of which was allocated to the Partnership and capitalized during the year ended December 31, 2010. The unamortized balance of the loan costs of approximately $10,000 was written off in conjunction with the sale of Carriage Hill Apartments (see Note H) and recognized as loss on extinguishment of debt during the year ended December 31, 2010.

~~The~~Note ~~following~~E is- aIncome ~~reconciliation at December 31, 2009 between the Partnership's reported amounts and Federal tax basis of net liabilities (in thousands):~~Taxes

	2009	2008
Net liabilities - as reported	$(3,978)	$(3,883)
Land and buildings	572	577
Accumulated depreciation	(296)	(322)
Syndication fees	2,071	2,071
Other	67	101
Net liabilities - Federal tax basis	$(1,564)	$(1,456)

Taxable income or loss of the Partnership is reported in the income tax returns of its partners. Accordingly, no provision for income taxes is made in the consolidated financial statements of the Partnership.

~~Note~~The DPartnership -adopted ~~Transactions with~~the ~~Affiliated~~liquidation ~~Parties~~basis of accounting effective December 31, 2010.

The ~~Partnership~~following ~~has~~is noa ~~employees~~reconciliation ~~and~~of ~~depends~~reported onnet ~~the~~income ~~General Partner~~ and ~~its~~Federal ~~affiliates~~taxable ~~for~~income ~~the management~~(in ~~and administration of all Partnership activities. The~~thousands, ~~Partnership~~except ~~Agreement~~per ~~provides~~unit ~~for certain payments to affiliates for services and reimbursement of certain expenses incurred by affiliates on behalf of the Partnership.~~ data):

Affiliates of the General Partner receive 5% of gross receipts from the Partnership’s property as compensation for providing property management services. The Partnership paid to such affiliates approximately $79,000 and $78,000 for the years ended December 31, 2009 and 2008, respectively, which are included in operating expenses.

	2010	2009

Net income as reported	$ 5,481	$ 330
Add (deduct):
Depreciation differences	82	26
Unearned income	(21)	2
Other	(342)	(41)
Federal taxable income	$ 5,200	$ 317

Federal taxable income per
limited partnership unit	$276.76	$ 16.84

~~Affiliates~~The offollowing ~~the~~is ~~General~~a ~~Partner~~reconciliation ~~charged~~between the Partnership's ~~for~~reported ~~reimbursement of accountable administrative expenses amounting to approximately $40,000 and $62,000 for the years ended December 31, 2009 and 2008, respectively. These~~ amounts ~~are included in general~~ and ~~administrative~~Federal ~~expenses~~tax ~~and investment property. The portion of these~~basis ~~reimbursements included in investment property for the years ended December 31, 2009 and 2008 are construction management services provided by an affiliate~~ of ~~the~~ ~~General~~net ~~Partner~~assets of(liabilities) ~~approximately~~(in ~~$15,000 and $19,000, respectively.~~thousands):

	2010	2009
Net assets (liabilities) - as
reported	$ 1,661	$(3,978)
Land and buildings	--	572
Accumulated depreciation	--	(296)
Syndication fees	2,071	2,071
Other	(92)	67
Net liabilities - Federal tax basis	$ 3,640	$(1,564)

The Partnership ~~Agreement~~is subject ~~provides~~to ~~for~~Michigan aincome ~~fee~~taxes ~~equal~~as toa 5%result of ~~“net~~the ~~cash~~Partnership’s ~~flow~~former ~~from operations”~~property, ~~as defined in~~ ~~the~~Carriage ~~Partnership~~Hill ~~Agreement~~Apartments, tobeing belocated ~~paid~~in to the ~~General~~state ~~Partner~~of ~~for executive and administrative services~~Michigan. ~~This~~ ~~fee~~During ~~is subordinate to the limited partners receiving a cumulative return of 5% per annum on their adjusted capital investment~~2010, ~~as defined in~~ the Partnership ~~Agreement.~~recognized ~~For~~current ~~the~~tax ~~year~~expense ~~ended~~of ~~December 31,~~approximately ~~2008~~$209,000 ~~the Partnership accrued a fee~~ of which approximately $923,000, ~~which~~and ~~was reversed during the year ended December 31~~$186,000 ~~2009,~~are asincluded itin ~~was~~operating ~~determined~~expense ~~that the~~and ~~criteria~~as ~~for~~a ~~payment~~reduction of ~~the~~gain ~~fee~~from ~~would~~sale ~~not~~of bediscontinued ~~met~~operations, respectively. ~~The~~Taxes ~~General~~payable ~~Partner~~at ~~was~~December ~~entitled~~31, to2010 aalso ~~fee~~included of approximately $2126,000 ~~for~~which ~~the~~is ~~year~~owed ~~ended~~for ~~December 31,~~ 2009. ~~However,~~Michigan ~~this~~income ~~fee was not accrued as it was determined that the criteria for payment of the fee would not be met~~taxes.

~~The~~Note ~~Partnership~~F ~~insures its property up to certain limits through coverage provided by AIMCO which is generally self~~-~~insured~~ ~~for~~Transactions a portion of losses and liabilities related to workers’ compensation, property casualty, general liability and vehicle liability. The Partnership insures its property above the AIMCO limits through insurance policies obtained by AIMCO from insurers unaffiliated with ~~the General~~ ~~Partner.~~Affiliated During the years ended December 31, 2009 and 2008, the Partnership was charged by AIMCO and its affiliates approximately $22,000 and $32,000, respectively, for insurance coverage and fees associated with policy claims administration.Parties

InThe ~~addition to its indirect ownership of the general partner interest in the~~ Partnership, ~~AIMCO~~has ~~and its~~no ~~affiliates~~employees owned 11,518 limited partnership units (the “Units”) in the Partnership representing 61.84% of the outstanding Units at December 31, 2009. A number of these Units were acquired pursuant to tender offers made by AIMCO or its affiliates. It is possible that AIMCO or its affiliates will acquire additional Units in exchange for cash or a combination of cash and ~~units~~ independs AIMCO Properties, L.P., the operating partnership of AIMCO, either through private purchases or tender offers. Pursuant to the Partnership Agreement, unitholders holding a majority of the Units are entitled to take action with respect to a variety of matters, that include, but are not limited to, voting on ~~certain amendments to~~ the ~~Partnership Agreement and voting to remove the~~ General Partner~~. As~~ aand ~~result of~~ its ~~ownership~~affiliates offor ~~61.84% of~~ the ~~outstanding~~management ~~Units, AIMCO~~ and ~~its~~administration ~~affiliates~~of ~~are in a position to control~~ all ~~such~~ ~~voting decisions with respect to the~~ Partnership activities. ~~Although the~~The ~~General Partner owes fiduciary duties to the limited partners of the~~ Partnership, ~~the~~Agreement ~~General~~provides ~~Partner~~for ~~also~~certain ~~owes~~payments ~~fiduciary duties~~ to ~~AIMCO~~affiliates asfor ~~its sole~~services ~~stockholder. As~~and areimbursement ~~result, the duties~~ of ~~the~~certain ~~General~~expenses ~~Partner,~~incurred asby ~~general partner,~~affiliates toon ~~the~~behalf ~~Partnership and its limited partners may come into conflict with the duties~~ of the ~~General Partner to AIMCO as its sole stockholder~~ Partnership.

~~Note~~Affiliates Eof -the ~~Investment~~General ~~Property~~Partner received 5% of gross receipts from the Partnership’s property as compensation for providing property management services. The Partnership paid to such affiliates approximately $78,000 and ~~Accumulated~~$79,000 ~~Depreciation~~for the years ended December 31, 2010 and 2009, respectively, which are included in operating expenses.

			Initial Cost
			To Partnership
			(in thousands)
				Buildings	Net Cost
				and Related	Capitalized
				Personal	Subsequent to
Description		Encumbrances	Land	Property	Acquisition
	(in thousands)				(in thousands)
Carriage Hills
Apartments	$ 5,360		$ 101	$ 3,509	$ 3,781

Affiliates of the General Partner charged the Partnership for reimbursement of accountable administrative expenses amounting to approximately $54,000 and $40,000 for the years ended December 31, 2010 and 2009, respectively. These amounts are included in general and administrative expenses, investment property and gain from sale of discontinued operations. The portion of these reimbursements included in gain from sale of discontinued operations and investment property for the years ended December 31, 2010 and 2009 are construction management services provided by an affiliate of the General Partner of approximately $21,000 and $15,000, respectively.

	Gross Amount At Which Carried
	At December 31, 2009
	(in thousands)
			Buildings
			And Related
			Personal			Accumulated	Date of	Date	Depreciable
Description		Land	Property	Total		Depreciation	Construction	Acquired	Life
					(in thousands)
Carriage Hills
Apartments		$ 101	$ 7,290	$ 7,391		$ 6,049	6/72	07/30/82	5-30 yrs

Pursuant to the Partnership Agreement, the General Partner is entitled to receive a distribution equal to 4% of the aggregate disposition price of sold properties. The Partnership paid a distribution of approximately $210,000 to the General Partner related to the sale of Greentree Apartments in 2003. The Partnership paid a distribution of approximately $154,000 to the General Partner related to the sale of Vista Hills Apartments in 1999. These distributions were subordinate to the limited partners receiving their original capital contributions plus a cumulative preferred return of 6% per annum of their adjusted capital investment, as defined in the Partnership Agreement. If the limited partners have not received these returns when the Partnership terminates, the General Partner will be required to return these amounts to the Partnership. These distributions totaling $364,000 were returned by the General Partner to the Partnership during the year ended December 31, 2010 as a result of the limited partners not receiving a return of their original capital contributions plus the cumulative preferred return with the sale of the Partnership’s remaining investment property during December 2010.

~~Reconciliation~~The Partnership Agreement provides for a fee equal to 5% of “net cash flow from operations”, as defined in "the Partnership Agreement, to be paid to the General Partner for executive and administrative services. This fee is subordinate to the limited partners receiving a cumulative return of 5% per annum on their adjusted capital investment, ~~property~~as defined in the Partnership Agreement. The General Partner was entitled to a fee of approximately $6,000 and ~~accumulated~~$21,000 for ~~depreciation":~~the years ended December 31, 2010 and 2009, respectively. However, the fees were not accrued as it was determined that the criteria for payment of the fees would not be met. For the year 2008, the Partnership accrued a fee of approximately $9,000, which was reversed during the year ended December 31, 2009, as it was determined that the criteria for payment of the fee would not be met.

	Years Ended December 31,
	2009	2008
	(in thousands)
Investment Property
Balance at beginning of year	$ 7,210	$ 6,993
Property improvements and replacements	181	217
Balance at end of year	$ 7,391	$ 7,210
Accumulated Depreciation
Balance at beginning of year	$ 5,839	$ 5,640
Depreciation expense	210	199
Balance at end of year	$ 6,049	$ 5,839

During the year ended December 31, 2010, AIMCO Properties, L.P., an affiliate of the General Partner, advanced the Partnership approximately $113,000 to fund real estate taxes and a fee to extend the maturity date of the mortgage encumbering Carriage Hill Apartments. There were no such advances during the year ended December 31, 2009. AIMCO Properties, L.P. charged interest on advances under the terms permitted by the Partnership Agreement. The outstanding advances made to the Partnership accrued interest at a variable rate based on the prime rate plus a market rate adjustment for similar type loans. Affiliates of the General Partner reviewed the market rate adjustment quarterly. Interest expense was approximately $3,000 for the year ended December 31, 2010. There was no such interest expense during the year ended December 31, 2009. During the year ended December 31, 2010 the Partnership repaid the outstanding advances and accrued interest of approximately $116,000. There were no payments made during the year ended December 31, 2009. There were no outstanding advances or associated accrued interest at December 31, 2010 and December 31, 2009.

The ~~aggregate~~Partnership ~~cost~~insured ~~of the~~its ~~real~~property ~~estate~~up ~~for~~to ~~Federal~~certain ~~income~~limits ~~tax~~through ~~purposes~~coverage atprovided ~~December~~by ~~31,~~AIMCO ~~2009~~which is generally self-insured for a portion of losses and ~~2008~~liabilities isrelated to ~~approximately~~workers’ $7compensation,~~963,000~~ ~~and~~property $7casualty,~~787,000,~~ ~~respectively~~general liability and vehicle liability. The ~~accumulated~~Partnership insured its property above the AIMCO limits through ~~depreciation~~insurance ~~taken~~policies ~~for~~obtained ~~Federal~~by ~~income~~AIMCO ~~tax~~from ~~purposes~~insurers atunaffiliated with the General Partner. During the years ended December 31, ~~2009~~2010 and ~~2008~~2009, the Partnership was ischarged by AIMCO and its affiliates approximately $630,~~345,~~000 and $622,~~161,~~000, respectively, for insurance coverage and fees associated with policy claims administration.

~~Note~~In Faddition -to its indirect ~~Contingencies~~ownership of the general partner interest in the Partnership, AIMCO and its affiliates owned 11,518 limited partnership units (the “Units”) in the Partnership representing 61.86% of the outstanding Units at December 31, 2010. A number of these Units were acquired pursuant to tender offers made by AIMCO or its affiliates. Pursuant to the Partnership Agreement, unitholders holding a majority of the Units are entitled to take action with respect to a variety of matters, that include, but are not limited to, voting on certain amendments to the Partnership Agreement and voting to remove the General Partner. As a result of its ownership of 61.86% of the outstanding Units, AIMCO and its affiliates are in a position to control all such voting decisions with respect to the Partnership. Although the General Partner owes fiduciary duties to the limited partners of the Partnership, the General Partner also owes fiduciary duties to AIMCO as its sole stockholder. As a result, the duties of the General Partner, as general partner, to the Partnership and its limited partners may come into conflict with the duties of the General Partner to AIMCO as its sole stockholder.

AsNote ~~previously~~G ~~disclosed, AIMCO~~– ~~Properties, L.P. and NHP Management Company, both affiliates of the~~Casualty General Partner, were defendants in a lawsuit, filed as a collective action in August 2003 in the United States District Court for the District of Columbia, alleging that they willfully violated the Fair Labor Standards Act (“FLSA”) by failing to pay maintenance workers overtime for time worked in excess of 40 hours per week (“overtime claims”). The plaintiffs also contended that AIMCO Properties, L.P. and NHP Management Company (“the Defendants”) failed to compensate maintenance workers for time that they were required to be "on-call" (“on-call claims”). In March 2007, the court in the District of Columbia decertified the collective action. In July 2007, plaintiffs’ counsel filed individual cases in Federal court in 22 jurisdictions. In the second quarter of 2008, AIMCO Properties, L.P. settled the overtime cases involving 652 plaintiffs and established a framework for resolving the 88 remaining “on-call” claims and the attorneys’ fees claimed by plaintiffs’ counsel. As a result, the lawsuits asserted in the 22 Federal courts have been dismissed. During the fourth quarter of 2008, the settlement amounts for alleged unpaid overtime to employees were paid by those partnerships where the respective employees had worked. The Partnership was not required to pay any settlement amounts. At this time, the 88 remaining “on-call” claims and the attorneys’ fees claimed by plaintiffs’ counsel are not resolved. The parties have selected six “on-call” claims that will proceed forward through the arbitration process and have selected arbitrators. After those arbitrations have been completed, the parties will revisit settling the on-call claims. The first two arbitrations took place in December 2009 and the Defendants received a defense verdict against the first two claimants and plaintiffs dismissed the claims of the next two claimants. The remaining two arbitrations will take place in April 2010. The General Partner is uncertain as to the amount of any loss that may be allocable to the Partnership. Therefore, the Partnership cannot estimate whether any loss will occur or a potential range of loss.Event

~~The~~During June 2010, Carriage ~~Partnership~~Hill isApartments ~~unaware~~suffered damages of ~~any~~approximately ~~other~~$35,000 ~~pending~~from orfalling ~~outstanding~~trees ~~litigation matters~~as ~~involving~~a itresult orof ~~its~~a ~~investment~~severe ~~property~~storm. ~~that~~During ~~are~~the ~~not~~year ofended aDecember ~~routine~~31, ~~nature~~2010, ~~arising~~the Partnership incurred approximately $10,000 for clean-up costs, which were included in operating expenses. During the ~~ordinary~~year ~~course~~ended December 31, 2010, the Partnership recognized a casualty gain of ~~business~~approximately $25,000 as a result of the receipt of insurance proceeds of approximately $25,000. The damaged assets were fully depreciated.

~~Environmental~~Note H – Disposition of Investment Property

~~Various~~On ~~Federal~~December 28, ~~state~~2010, ~~and~~the ~~local~~Partnership ~~laws~~sold ~~subject~~Carriage ~~property~~Hill ~~owners~~Apartments orto ~~operators~~a tothird ~~liability~~party for ~~management,~~a ~~and~~gross sales ~~the~~price ~~costs~~ of ~~removal or remediation~~$7, ~~of certain hazardous substances present on a property~~100, ~~including lead-based paint~~000. The ~~Such~~net ~~laws~~proceeds ~~often~~realized ~~impose~~by ~~liability without regard to whether~~ the ~~owner~~Partnership orwere approximately ~~operator knew of~~$6, ~~or was responsible for~~909,000 ~~the release~~after orpayment ~~presence~~ of ~~the~~closing ~~hazardous~~costs ~~substances. The presence~~ of, ~~or the failure~~approximately ~~to manage or remedy properly~~$191,000. ~~hazardous~~The ~~substances~~Partnership ~~may~~used ~~adversely~~approximately ~~affect occupancy~~$5,360,000 atof ~~affected apartment communities and~~ the ~~ability~~net toproceeds ~~sell or finance~~to ~~affected~~repay ~~properties.~~the Inmortgage ~~addition~~encumbering to the ~~costs~~property. ~~associated~~The ~~with~~Partnership ~~investigation~~recognized ~~and remediation~~a ~~actions brought by government agencies, and potential fines or~~gain ~~penalties~~of ~~imposed~~approximately ~~by such agencies in connection therewith~~$5,332,000 ~~the~~as ~~presence of hazardous substances on~~ a ~~property~~result ~~could~~of ~~result~~the insale ~~claims~~during bythe ~~private~~year ~~plaintiffs~~ended ~~for~~December ~~personal injury~~31, ~~disease, disability or other infirmities~~2010. ~~Various~~While ~~laws also impose liability for~~ the ~~cost~~Partnership ofis ~~removal,~~not ~~remediation~~subject orto ~~disposal~~Federal ofincome ~~hazardous~~tax, ~~substances~~it ~~through~~is asubject ~~licensed~~to ~~disposal~~tax orrelated ~~treatment~~to ~~facility.~~its ~~Anyone~~Michigan ~~who arranges~~activities. ~~for~~During the ~~disposal~~year ~~or treatment of hazardous substances is potentially~~ended ~~liable~~December ~~under~~31, ~~such~~2010, ~~laws.~~as ~~These~~a ~~laws~~result ~~often~~of ~~impose~~the ~~liability~~sale ~~whether~~of orCarriage ~~not~~Hill Apartments, the ~~person~~Partnership ~~arranging~~recognized ~~for~~current ~~the~~tax ~~disposal~~expense ~~ever~~of ~~owned~~approximately or$186,000, ~~operated~~which ~~the disposal facility.~~is Inreflected ~~connection~~as ~~with~~a ~~the~~reduction ~~ownership,~~of ~~operation~~gain ~~and~~from ~~management~~sale of ~~its~~discontinued ~~property,~~operations. ~~the~~The ~~Partnership~~corresponding ~~could~~liability ~~potentially~~is beincluded ~~liable~~in ~~for~~taxes ~~environmental~~payable ~~liabilities~~at orDecember ~~costs~~31, ~~associated with its property~~2010.

~~Mold~~Note I – Deficit Restoration

~~The~~As ~~Partnership is aware~~ of ~~lawsuits~~ ~~against~~December ~~owners~~31, ~~and~~2010, ~~managers~~the Partnership ofadopted ~~multifamily~~the ~~properties~~liquidation ~~asserting~~basis ~~claims~~ of ~~personal~~accounting ~~injury~~due ~~and~~to ~~property damage caused by~~ the ~~presence~~sale of ~~mold, some of~~its ~~which~~remaining ~~have~~investment ~~resulted~~property. inIf ~~substantial~~the ~~monetary~~General ~~judgments~~Partner ~~or settlements. The Partnership~~ has ~~only~~a ~~limited~~deficit ~~insurance~~balance ~~coverage for property damage loss claims~~in ~~arising~~its ~~from~~capital ~~the~~account, ~~presence~~on ofa ~~mold~~tax ~~and~~basis, ~~for~~following ~~personal~~the ~~injury~~liquidation ~~claims related to mold exposure. Affiliates~~ of the ~~General Partner have implemented policies,~~ ~~procedures~~Partnership, ~~third-party audits and training and~~ the General Partner ~~believes that~~is ~~these~~obligated ~~measures~~to ~~will~~restore ~~prevent~~the oramount ~~eliminate~~of ~~mold~~such deficit ~~exposure~~balance ~~and~~to ~~will minimize~~ the ~~effects that mold may have on residents~~Partnership. To ~~date,~~The ~~the~~ Partnership has ~~not~~ ~~incurred~~recorded ~~any~~a ~~material~~receivable from ~~costs~~the orGeneral ~~liabilities~~Partner ~~relating~~at toDecember ~~claims~~31, 2010 of ~~mold exposure~~approximately or$154,000 to ~~abate mold conditions. Because the law regarding mold is~~ ~~unsettled~~restore ~~and subject to change~~ the General Partner’s ~~can~~tax ~~make~~basis nodeficit ~~assurance~~balance. ~~that liabilities~~Subsequent ~~resulting from the presence of or exposure~~ to ~~mold will not have a~~December ~~material~~31, ~~adverse~~2010, ~~effect on~~ the ~~Partnership’s~~balance ~~financial~~was ~~condition~~received orfrom ~~results~~the ~~of operations~~General Partner.

~~Item~~Note 9.J ~~Changes in and Disagreements with Accountants on Accounting and Financial Disclosures~~– Distributions

~~None.~~The Partnership distributed the following amounts during the years ended December 31, 2010 and 2009 (in thousands, except per unit data):

Item 9A(T).Controls and Procedures

	Year Ended	Per Limited	Year Ended	Per Limited
	December 31,	Partnership	December 31,	Partnership
	2010	Unit	2009	Unit

Operations	$ 188	$ 9.98	$ --	$ --
Refinance (1)	172	9.13	425	22.60
	$ 360	$ 19.11	$ 425	$ 22.60

(a1) ~~Disclosure~~Distributions ~~Controls~~from the September 2007 refinancing of the mortgage encumbering ~~and~~Carriage ~~Procedures~~Hill Apartments.

~~The~~Subsequent ~~Partnership’s~~to ~~management,~~December ~~with the~~31, ~~participation of the principal executive officer and principal financial officer of the General Partner~~2010, ~~who are~~ the ~~equivalent of the~~ Partnership’s ~~principal executive~~distributed ~~officer~~sale ~~and~~proceeds ~~principal~~of ~~financial~~approximately ~~officer~~$1, ~~respectively~~420,000 ~~has evaluated~~to ~~the~~its ~~effectiveness~~limited ofpartners from the ~~Partnership’s~~December ~~disclosure~~2010 ~~controls~~sale ~~and~~of ~~procedures~~Carriage ~~(as~~Hill Apartments ~~defined~~(approximately in$76.24 ~~Rules~~per ~~13a-15(e)~~limited ~~and~~partnership ~~15d-15(e~~unit). ~~under~~Additionally, ~~the Securities Exchange Act of~~in ~~1934,~~conjunction aswith ~~amended (~~the ~~“Exchange~~transfer ~~Act”)) as~~ of ~~the~~funds ~~end~~from of the ~~period~~majority-owned ~~covered~~sub-tier bylimited ~~this report. Based on such evaluation~~partnership, ~~the~~which ~~principal~~owned ~~executive~~Carriage ~~officer~~Hill ~~and principal financial officer of the General Partner~~Apartments, ~~who~~to ~~are~~ the ~~equivalent of the~~ Partnership~~’s principal executive officer and principal financial officer~~, ~~respectively,~~approximately ~~have concluded that~~$13,000 aswas ofdistributed to the ~~end~~general partner of ~~such period,~~ the ~~Partnership’s~~majority-owned ~~disclosure~~sub-tier ~~controls~~limited ~~and~~partnership ~~procedures~~subsequent ~~are~~to ~~effective.~~ December 31, 2010.

Management’sNote ReportK on– Internal Control Over Financial ReportingContingencies

~~The~~As ~~Partnership’s~~previously ~~management~~disclosed, AIMCO isProperties, ~~responsible~~L.P. and NHP Management Company, both affiliates of the General Partner, were defendants in a lawsuit, filed as a collective action in August 2003 in the United States District Court for ~~establishing~~the ~~and~~District ~~maintaining~~of ~~adequate~~Columbia, alleging ~~internal~~that ~~control~~they ~~over~~willfully ~~financial~~violated the Fair Labor Standards Act (“FLSA”) by ~~reporting.~~failing ~~Internal~~to ~~control~~pay ~~over~~maintenance ~~financial~~workers ~~reporting~~overtime isfor ~~defined~~time worked in ~~Rule~~excess of 40 ~~13a-15~~hours per week (f“overtime claims”). The plaintiffs also contended that AIMCO Properties, L.P. and ~~15d~~NHP Management Company (“the Defendants”) failed to compensate maintenance workers for time that they were required to be "on-15call" (f“on-call claims”). ~~under~~In March 2007, the court ~~Exchange~~in ~~Act~~the asDistrict aof ~~process~~Columbia ~~designed~~decertified bythe collective action. In July 2007, orplaintiffs’ counsel filed individual cases in Federal court in 22 ~~under~~jurisdictions. In the ~~supervision~~second quarter of 2008, AIMCO Properties, L.P. settled the overtime ~~principal~~cases ~~executive~~involving 652 plaintiffs and ~~principal~~established ~~financial~~a framework for ~~officers~~resolving ofthe 88 remaining “on-call” claims and the ~~General~~attorneys’ ~~Partner,~~fees ~~who~~claimed ~~are~~by plaintiffs’ counsel. As a result, the ~~equivalent~~lawsuits ofasserted in the ~~Partnership’s~~22 Federal courts ~~principal~~were ~~executive~~dismissed. ~~officer~~During ~~and~~the ~~principal~~fourth ~~financial~~quarter ~~officer,~~of ~~respectively~~2008, ~~and~~the settlement amounts for ~~effected~~alleged unpaid overtime to employees were paid by those partnerships where the respective ~~Partnership’s~~employees ~~management~~had ~~and~~worked. The ~~other~~Partnership ~~personnel~~was not required to ~~provide~~pay ~~reasonable~~any ~~assurance~~settlement ~~regarding~~amounts. During January 2011, the ~~reliability~~parties ofreached ~~financial~~an agreement ~~reporting~~to settle the remaining “on-call claims” and the plaintiffs’ ~~preparation~~attorneys’ offees. ~~consolidated~~The ~~financial~~Partnership ~~statements~~will ~~for~~not ~~external~~be ~~purposes~~required into pay any settlement ~~accordance~~amounts ~~with~~or ~~generally~~plaintiffs’ ~~accepted~~attorneys’ ~~accounting~~fees ~~principles~~as ~~and~~a ~~includes~~result ~~those~~of this agreement. ~~policies~~These ~~and~~settlements ~~procedures~~resolve ~~that:~~the case in its entirety.

· The Partnership is unaware ~~pertain~~of toany ~~the~~other pending or outstanding litigation matters involving it or its ~~maintenance~~former ofinvestment ~~records~~property that inare ~~reasonable~~not ~~detail~~of ~~accurately~~a ~~and~~routine ~~fairly~~nature ~~reflect the~~arising ~~transactions~~in ~~and~~the ordinary ~~dispositions~~course of ~~assets;~~business.

· provide reasonable assurance that transactions are recorded as necessary to permit preparation of consolidated financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures are being made only in accordance with authorizations of the Partnership’s management; andEnvironmental

· Various ~~provide~~Federal, ~~reasonable~~state and local laws subject property owners or operators to liability ~~assurance~~for ~~regarding~~management, ~~prevention~~and the costs of removal or ~~timely~~remediation, ~~detection~~of certain potentially hazardous materials present on a property, including lead-based paint, asbestos, polychlorinated biphenyls, petroleum-based fuels, and other miscellaneous materials. Such laws often impose liability without regard to whether the owner or operator knew of, ~~unauthorized~~or ~~acquisition~~was responsible for, the release or ~~use~~presence of such materials. The presence of, or ~~disposition~~the failure to manage or remedy properly, these materials may adversely affect occupancy at affected apartment communities and the ability to sell or finance affected properties. In addition to the costs associated with investigation and remediation actions brought by government agencies, and potential fines or penalties imposed by such agencies in connection therewith, the improper management of ~~assets~~these ~~that~~materials on a property could ~~have~~result in claims by private plaintiffs for personal injury, disease, disability or other infirmities. Various laws also impose liability for the cost of removal, remediation or disposal of these materials through a ~~material~~licensed ~~effect~~disposal onor treatment facility. Anyone who arranges for the disposal ~~consolidated~~or ~~financial~~treatment ~~statements~~of these materials is potentially liable under such laws. These laws often impose liability whether or not the person arranging for the disposal ever owned or operated the disposal facility. In connection with the ownership, operation and management of its former property, the Partnership could potentially be responsible for environmental liabilities or costs associated with its former property.

~~Because~~Item ~~of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements~~9. ~~Projections~~ ofChanges ~~any evaluation of effectiveness to future periods are subject to the risks that controls may become inadequate because of changes~~ in ~~conditions, or~~and ~~that~~Disagreements ~~the degree of compliance~~ with ~~the~~Accountants ~~policies~~on orAccounting ~~procedures~~and ~~may deteriorate.~~Financial Disclosure

~~The Partnership’s management assessed the effectiveness of the Partnership’s internal control over financial reporting as of December 31, 2009~~None. ~~In making this assessment, the Partnership’s management used the criteria set forth by the~~

~~Committee~~Item ~~of Sponsoring~~9A. ~~Organizations~~Controls ofand ~~the Treadway Commission (COSO) in Internal Control-Integrated Framework.~~Procedures

~~Based on their assessment, the Partnership’s~~(a) ~~management~~Disclosure ~~concluded that, as of December 31, 2009, the Partnership’s internal~~Controls ~~control~~and ~~over financial reporting is effective.~~Procedures

~~This~~The ~~annual~~Partnership’s ~~report~~management, ~~does~~with ~~not~~the participation ~~include~~of anthe principal executive officer and principal financial officer ~~attestation~~of ~~report~~the General Partner, who are the equivalent of the Partnership’s ~~registered~~principal executive ~~public~~officer ~~accounting~~and ~~firm regarding~~principal ~~internal~~financial ~~control~~officer, ~~over~~respectively, ~~financial~~has ~~reporting. Management~~evaluated the effectiveness of the Partnership’s ~~report~~disclosure controls and procedures (as ~~was~~defined ~~not~~in ~~subject~~Rules to13a-15(e) and 15d-15(e) under the ~~attestation~~Securities byExchange Act of 1934, as amended (the ~~Partnership’s~~“Exchange ~~registered~~Act”)) ~~public~~as of the end of the period covered by ~~accounting~~this ~~firm~~report. ~~pursuant~~Based toon ~~temporary~~such ~~rules~~evaluation, the principal executive officer and principal financial officer of the ~~Securities~~General Partner, who are the equivalent of the Partnership’s principal executive officer and ~~Exchange~~principal financial officer, ~~Commission~~respectively, have concluded that, ~~permit~~as of the ~~Partnership~~end toof ~~provide~~such ~~only~~period, ~~management~~the Partnership’s ~~report~~disclosure ~~in this~~controls ~~annual~~and ~~report~~procedures are effective.

~~(b) Changes~~Management’s inReport on Internal Control ~~Over~~ Over Financial Reporting.

~~There~~The ~~has~~Partnership’s ~~been~~management nois ~~change~~responsible for inestablishing ~~the~~and ~~Partnership’s~~ maintaining adequate internal control over financial reporting. Internal control over financial reporting ~~(as~~is defined in ~~Rules~~ Rule 13a-15(f) and 15d-15(f) under the Exchange Act) ~~during~~as ~~the~~a ~~fourth~~process ~~quarter~~designed by, or under the supervision of, ~~2009~~the ~~that~~principal ~~has~~executive and principal financial ~~materially~~officers ~~affected~~of the General Partner, orwho isare ~~reasonably~~the ~~likely~~equivalent toof ~~materially~~the ~~affect~~Partnership’s principal executive officer and principal financial officer, ~~the~~respectively, and effected by the Partnership’s ~~internal~~management ~~control~~and ~~over~~other personnel to provide reasonable assurance regarding the reliability of financial reporting. and the preparation of consolidated financial statements for external purposes in accordance with generally accepted accounting principles and includes those policies and procedures that:

· pertain to the maintenance of records that in reasonable detail accurately and fairly reflect the transactions and dispositions of assets;

· provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of assets that could have a material effect on the consolidated financial statements.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Projections of any evaluation of effectiveness to future periods are subject to the risks that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

The Partnership’s management assessed the effectiveness of the Partnership’s internal control over financial reporting as of December 31, 2010. In making this assessment, the Partnership’s management used the criteria set forth by the

Committee of Sponsoring Organizations of the Treadway Commission (COSO) in Internal Control-Integrated Framework.

Based on their assessment, the Partnership’s management concluded that, as of December 31, 2010, the Partnership’s internal control over financial reporting is effective.

This annual report does not include an attestation report of the Partnership’s registered public accounting firm regarding internal control over financial reporting. Management’s report was not subject to attestation by the Partnership’s registered public accounting firm pursuant to rules of the Securities and Exchange Commission that permit the Partnership to provide only management’s report in this annual report.

(b) Changes in Internal Control Over Financial Reporting.

There has been no change in the Partnership’s internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) during the fourth quarter of 2010 that has materially affected, or is reasonably likely to materially affect, the Partnership’s internal control over financial reporting.

Item 9B. Other Information

None.

PART III

Item 10. Directors, Executive Officers and Corporate Governance

The Registrant has no officers or directors.

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

Name	Age	Position
Steven D. Cordes	3839	Director and Senior Vice President
John Bezzant	4748	Director and ~~Senior~~Executive Vice President
Timothy J. Beaudin	51	President an Chief Operating Officer
Ernest M. Freedman	40	Executive Vice President and Chief Financial Officer
Ernest M. Freedman	39	Executive Vice President and Chief Financial Officer
Lisa R. Cohn	42	Executive Vice President, General Counsel and Secretary
Lisa R. Cohn	41	Executive Vice President, General Counsel and Secretary
Paul Beldin	37	Senior Vice President and Chief Accounting Officer
Paul Beldin	36	Senior Vice President and Chief Accounting Officer
Stephen B. Waters	49	Senior Director of Partnership Accounting
Stephen B. Waters	48	Senior Director of Partnership Accounting

Steven D. Cordes was appointed as a Director of the General Partner effective March 2, 2009. Mr. Cordes has been a Senior Vice President of the General Partner and AIMCO since May 2007. Mr. Cordes joined AIMCO in 2001 as a Vice President of Capital Markets with responsibility for AIMCO’s joint ventures and equity capital markets activity. Prior to joining AIMCO, Mr. Cordes was a manager in the financial consulting practice of PricewaterhouseCoopers. Effective March 2009, Mr. Cordes was appointed to serve as the equivalent of the chief executive officer of the Partnership. Mr. Cordes brings particular expertise to the Board in the areas of asset management as well as finance and accounting.

John Bezzant was appointed as a Director of the General Partner effective December 16, 2009. Mr. Bezzant ~~has~~was ~~been~~appointed aExecutive ~~Senior~~ Vice President of the General Partner and AIMCO ~~since~~ ~~joining AIMCO~~ in ~~June~~January ~~2006. Prior~~2011 toand ~~joining~~prior ~~AIMCO, from 2005~~ to ~~June~~ ~~2006,~~that ~~Mr.~~time ~~Bezzant~~ was a ~~First~~Senior Vice President atof ~~Prologis,~~the General aPartner ~~Denver, Colorado-based~~and ~~real~~AIMCO ~~estate~~since ~~investment~~joining ~~trust,~~AIMCO ~~and~~in ~~from~~June ~~1986~~2006. Prior to joining ~~2005~~AIMCO, Mr. Bezzant ~~served~~ asspent ~~Vice~~over ~~President,~~20 ~~Asset~~years ~~Management~~with atPrologis, ~~Catellus~~Inc. and Catellus Development Corporation in a variety of executive positions, including those awith ~~San~~responsibility ~~Francisco~~for transactions, ~~California-based~~fund ~~real~~management, ~~estate~~asset ~~investment~~management, ~~trust~~leasing and operations. Mr. Bezzant brings particular expertise to the Board in the areas of real estate finance, property operations, sales and development.

Timothy J. Beaudin was appointed President and Chief Operating Officer of AIMCO and the General Partner in February 2009. He joined AIMCO and the General Partner as Executive Vice President and Chief Development Officer in October 2005 and was appointed Executive Vice President and Chief Property Operating Officer of the General Partner and AIMCO in October 2008. Mr. Beaudin oversees conventional and affordable property operations, transactions, asset management, and redevelopment and construction services for AIMCO and the General Partner. Prior to joining AIMCO and beginning in 1995, Mr. Beaudin was with Catellus Development Corporation. During his last five years at Catellus, Mr. Beaudin served as Executive Vice President, with management responsibility for development, construction and asset management.

Ernest M. Freedman was appointed Executive Vice President and Chief Financial Officer of the General Partner and AIMCO in November 2009. Mr. Freedman joined AIMCO in 2007 as Senior Vice President of Financial Planning and Analysis and has served as Senior Vice President of Finance since February 2009, responsible for financial planning, tax, accounting and related areas. Prior to joining AIMCO, from 2004 to 2007, Mr. Freedman served as chief financial officer of HEI Hotels and Resorts.

Lisa R. Cohn was appointed Executive Vice President, General Counsel and Secretary of the General Partner and AIMCO in December 2007. From January 2004 to December 2007, Ms. Cohn served as Senior Vice President and Assistant General Counsel of AIMCO. Ms. Cohn joined AIMCO in July 2002 as Vice President and Assistant General Counsel. Prior to joining AIMCO, Ms. Cohn was in private practice with the law firm of Hogan and Hartson LLP.

Paul Beldin joined AIMCO in May 2008 and has served as Senior Vice President and Chief Accounting Officer of AIMCO and the General Partner since that time. Prior to joining AIMCO, Mr. Beldin served as controller and then as chief financial officer of America First Apartment Investors, Inc., a publicly traded multifamily real estate investment trust, from May 2005 to September 2007 when the company was acquired by Sentinel Real Estate Corporation. Prior to joining America First Apartment Investors, Inc., Mr. Beldin was a senior manager at Deloitte and Touche LLP, where he was employed from August 1996 to May 2005, including two years as an audit manager in SEC services at Deloitte’s national office.

Stephen B. Waters was appointed Senior Director of Partnership Accounting of AIMCO and the General Partner in June 2009. Mr. Waters has responsibility for partnership accounting with AIMCO and serves as the principal financial officer of the General Partner. Mr. Waters joined AIMCO as a Director of Real Estate Accounting in September 1999 and was appointed Vice President of the General Partner and AIMCO in April 2004. Prior to joining AIMCO, Mr. Waters was a senior manager at Ernst & Young LLP.

The Registrant is not aware of the involvement in any legal proceedings with respect to the directors and executive officers listed in this Item 10.

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

The board of directors of the General Partner does not have a separate audit committee. As such, the board of directors of the General Partner fulfills the functions of an audit committee. The board of directors has determined that Steven D. Cordes meets the requirement of an "audit committee financial expert".

The directors and officers of the General Partner with authority over the Partnership are all employees of subsidiaries of AIMCO. AIMCO has adopted a code of ethics that applies to such directors and officers that is posted on AIMCO's website (www.AIMCO.com). AIMCO's website is not incorporated by reference to this filing.

Item 11. Executive Compensation

Neither the officers nor directors of the General Partner received any remuneration from the Registrant.

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Except as noted below, no person or entity was known by the Registrant to be the beneficial owner of more than 5% of the Limited Partner Units (the “Units”) of the Registrant as of December 31, ~~2009~~2010.

Entity	Number of Units	Percentage
AIMCO IPLP, L.P.	135	0.7273%
(an affiliate of AIMCO)
CooperRiverProperties, LLC	3,784	20.32%
Cooper River Properties, LLC	3,784	20.32%
(an affiliate of AIMCO)
AIMCO Properties, L.P.	7,599	40.8081%
(an affiliate of AIMCO)

Cooper River Properties, LLC and AIMCO IPLP, L.P., are indirectly ultimately owned by AIMCO. Their business address is 55 Beattie Place, Greenville, SC 29601.

AIMCO Properties, L.P. is indirectly ultimately controlled by AIMCO. Its business address is 4582 S. Ulster St. Parkway, Suite 1100, Denver, Colorado 80237.

The Partnership has no employees and depends on the General Partner and its affiliates for the management and administration of all Partnership activities. The Partnership Agreement provides for certain payments to affiliates for services and reimbursement of certain expenses incurred by affiliates on behalf of the Partnership.

Affiliates of the General Partner ~~receive~~received 5% of gross receipts from the Partnership’s property as compensation for providing property management services. The Partnership paid to such affiliates approximately $7978,000 and $7879,000 for the years ended December 31, ~~2009~~2010 and ~~2008~~2009, respectively, which are included in operating expenses.

Affiliates of the General Partner charged the Partnership for reimbursement of accountable administrative expenses amounting to approximately $4054,000 and $6240,000 for the years ended December 31, ~~2009~~2010 and ~~2008~~2009, respectively. These amounts are included in general and administrative expenses, ~~and~~ investment property and gain from sale of discontinued operations. The portion of these reimbursements included in gain from sale of discontinued operations and investment property for the years ended December 31, ~~2009~~ 2010 and ~~2008~~2009 are construction management services provided by an affiliate of the General Partner of approximately $1521,000 and $1915,000, respectively.

Pursuant to the Partnership Agreement, the General Partner is entitled to receive a distribution equal to 4% of the aggregate disposition price of sold properties. The Partnership paid a distribution of approximately $210,000 to the General Partner related to the sale of Greentree Apartments in 2003. The Partnership paid a distribution of approximately $154,000 to the General Partner related to the sale of Vista Hills Apartments in 1999. These distributions ~~are~~were subordinate to the limited partners receiving their original capital contributions plus a cumulative preferred return of 6% per annum of their adjusted capital investment, as defined in the Partnership Agreement. If the limited partners have not received these returns when the Partnership terminates, the General Partner will be required to return these amounts to the Partnership. These distributions totaling $364,000 were returned by the General Partner to the Partnership during the year ended December 31, 2010 as a result of the limited partners not receiving a return of their original capital contributions plus the cumulative preferred return with the sale of the Partnership’s remaining investment property during December 2010.

The Partnership Agreement provides for a fee equal to 5% of “net cash flow from operations”, as defined in the Partnership Agreement, to be paid to the General Partner for executive and administrative services. This fee is subordinate to the limited partners receiving a cumulative return of 5% per annum on their adjusted capital investment, as defined in the Partnership Agreement. ~~For~~The ~~the~~General ~~year~~Partner ~~ended~~was entitled ~~December~~to ~~31, 2008, the Partnership accrued~~ a fee of approximately $96,000, ~~which~~and ~~was~~$21,000 ~~reversed~~for ~~during~~ the ~~year~~years ended December 31, 2010 and 2009, respectively. However, the fees were not accrued as it was determined that the criteria for payment of the ~~fee~~fees would not be be met. ~~The~~For ~~General~~the ~~Partner~~year ~~was~~2008, ~~entitled~~the toPartnership accrued a fee of approximately $219,000, ~~for~~which was reversed during the year ended December 31, 2009~~. However~~, ~~this fee was not accrued~~ as it was determined that the criteria for payment of the fee would not be met.

~~The~~During ~~Partnership~~the ~~insures~~year ~~its~~ended ~~property~~December up31, to2010, ~~certain~~AIMCO ~~limits~~Properties, ~~through~~L.P., ~~coverage~~an ~~provided~~affiliate byof ~~AIMCO~~the ~~which~~General isPartner, ~~generally~~advanced ~~self-insured~~the ~~for~~Partnership approximately $113,000 to fund real estate taxes and a fee ~~portion~~to extend the maturity date of ~~losses~~the ~~and~~mortgage ~~liabilities~~encumbering ~~related~~Carriage toHill ~~workers’~~Apartments. ~~compensation~~There were no such advances during the year ended December 31, ~~property~~2009. AIMCO ~~casualty~~Properties, ~~general~~L.P. ~~liability~~charged ~~and~~interest ~~vehicle~~on advances under the terms permitted by ~~liability~~the Partnership Agreement. The outstanding advances made to the Partnership accrued ~~insures~~interest ~~its~~at ~~property~~a ~~above~~variable rate based on the ~~AIMCO~~prime ~~limits~~rate ~~through insurance~~plus ~~policies~~a ~~obtained~~market byrate adjustment ~~AIMCO~~for ~~from~~similar ~~insurers~~type ~~unaffiliated~~loans. ~~with~~Affiliates of the General Partner reviewed the market rate adjustment quarterly. ~~During~~Interest expense was approximately $3,000 for the ~~years~~year ended December 31, ~~2009~~2010. ~~and~~There ~~2008~~was no such interest expense during the year ended December 31, 2009. During the ~~Partnership~~year ~~was~~ended December 31, 2010 the ~~charged~~Partnership byrepaid ~~AIMCO~~the outstanding advances and ~~its~~accrued ~~affiliates~~interest of approximately $22116,000. ~~and~~There ~~$32,000,~~were no payments made during the year ended ~~respectively~~December 31, ~~for~~2009. ~~insurance~~There ~~coverage~~were ~~and~~no ~~fees~~outstanding ~~associated~~advances ~~with~~or ~~policy~~associated ~~claims~~accrued ~~administration~~interest at December 31, 2010 and December 31, 2009.

InThe ~~addition to its indirect ownership of the general partner interest in the~~ Partnership, ~~AIMCO~~insured ~~and~~ its ~~affiliates~~property ~~owned~~up ~~11,518~~to ~~limited~~certain ~~partnership~~limits ~~units~~through ~~(the~~coverage ~~“Units”)~~provided ~~in the Partnership representing 61.84% of the outstanding Units at December 31, 2009. A number of these Units were acquired pursuant to tender offers made~~ by AIMCO orwhich ~~its affiliates. It~~ is ~~possible that AIMCO or its affiliates~~ ~~will~~generally ~~acquire~~self-insured ~~additional Units in exchange~~ for ~~cash or~~ a ~~combination~~portion of ~~cash~~losses and ~~units~~ inliabilities ~~AIMCO~~related ~~Properties, L.P., the operating partnership of AIMCO, either through private purchases or tender offers. Pursuant~~ to ~~the Partnership~~ ~~Agreement,~~workers’ ~~unitholders holding a majority of the Units are entitled to take action with respect to a variety of matters~~compensation, ~~that~~property ~~include~~casualty, ~~but~~general ~~are~~liability ~~not limited to, voting on certain amendments to the Partnership Agreement~~ and ~~voting to~~vehicle ~~remove the General Partner~~liability. As aThe ~~result~~Partnership ofinsured its ~~ownership~~property ofabove ~~61.84% of~~ the ~~outstanding~~ ~~Units,~~ AIMCO ~~and~~limits ~~its~~through insurance ~~affiliates~~policies ~~are~~obtained inby aAIMCO ~~position~~from toinsurers ~~control~~unaffiliated ~~all such voting decisions~~ with ~~respect to~~ the ~~Partnership. Although the~~ General Partner. ~~owes~~During ~~fiduciary~~the ~~duties~~years toended ~~the~~December ~~limited~~31, ~~partners~~2010 ofand ~~the Partnership~~2009, the ~~General~~Partnership ~~Partner~~was charged ~~also~~by ~~owes fiduciary duties to~~ AIMCO asand its ~~sole stockholder. As~~affiliates aapproximately ~~result~~$30,000 ~~the~~and ~~duties of the General Partner~~$22, ~~as general~~000, ~~partner~~respectively, tofor ~~the~~insurance ~~Partnership~~coverage and ~~its~~fees ~~limited~~associated ~~partners may come into conflict~~ with ~~the~~ ~~duties~~policy ~~of the General Partner to AIMCO as its sole stockholder~~claims administration.

In addition to its indirect ownership of the general partner interest in the Partnership, AIMCO and its affiliates owned 11,518 limited partnership units (the “Units”) in the Partnership representing 61.86% of the outstanding Units at December 31, 2010. A number of these Units were acquired pursuant to tender offers made by AIMCO or its affiliates. Pursuant to the Partnership Agreement, unitholders holding a majority of the Units are entitled to take action with respect to a variety of matters, that include, but are not limited to, voting on certain amendments to the Partnership Agreement and voting to remove the General Partner. As a result of its ownership of 61.86% of the outstanding Units, AIMCO and its affiliates are in a position to control all such voting decisions with respect to the Partnership. Although the General Partner owes fiduciary duties to the limited partners of the Partnership, the General Partner also owes fiduciary duties to AIMCO as its sole stockholder. As a result, the duties of the General Partner, as general partner, to the Partnership and its limited partners may come into conflict with the duties of the General Partner to AIMCO as its sole stockholder.

Neither of the General Partner’s directors is independent under the independence standards established for New York Stock Exchange listed companies as both directors are employed by the parent of the General Partner.

Item 14. Principal Accounting Fees and Services

The General Partner has reappointed Ernst & Young LLP as independent auditors to audit the financial statements of the Partnership for ~~2010~~2011. The aggregate fees billed for services rendered by Ernst & Young LLP for ~~2009~~2010 and ~~2008~~2009 are described below.

Audit Fees. Fees for audit services totaled approximately $3843,000 and $4538,000 for the years ~~2009~~2010 and ~~2008~~2009, respectively. Fees for audit services also include fees for the reviews of the Partnership’s Quarterly Reports on Form 10-Q.

Tax Fees. Fees for tax services totaled approximately $14,000 and $11,000 for ~~each of~~ the years ~~2009~~2010 and 2009, ~~2008~~respectively.

PART IV

Item 15. Exhibits, Financial Statement Schedules

(a) The following consolidated financial statements of the Registrant are included in Item 8:

Consolidated ~~Balance~~Statement ~~Sheets at~~of ~~December~~Net ~~31,~~Assets ~~2009~~in ~~and~~Liquidation ~~2008~~- December 31, 2010.

Consolidated ~~Statements~~Balance ~~of Operations~~Sheet ~~for the years ended~~ – December 31, 2009 ~~and 2008~~.

Consolidated Statements of ~~Changes~~Discontinued inOperations ~~Partners'~~- ~~Deficit~~Years ~~for the years~~ ended December 31, ~~2009~~2010 and ~~2008~~ 2009.

Consolidated Statements of ~~Cash~~Changes ~~Flows~~in ~~for~~Partners' ~~the~~Capital/Net ~~years~~Assets in Liquidation – Years ended December 31, ~~2009~~2010 and ~~2008~~2009.

~~Notes~~Consolidated toStatements ~~Consolidated~~of ~~Financial~~Cash ~~Statements~~Flows – Years ended December 31, 2010 and 2009.

Notes to Consolidated Financial Statements.

Schedules are omitted for the reason that they are inapplicable or equivalent information has been included elsewhere herein.

b) Exhibits:

See Exhibit Index.

The agreements included as exhibits to this Form 10-K contain representations and warranties by each of the parties to the applicable agreement. These representations and warranties have been made solely for the benefit of the other parties to the applicable agreement and:

should not in all instances be treated as categorical statements of fact, but rather as a way of allocating the risk to one of the parties if those statements prove to be inaccurate;

have been qualified by disclosures that were made to the other party in connection with the negotiation of the applicable agreement, which disclosures are not necessarily reflected in the agreement;

may apply standards of materiality in a way that is different from what may be viewed as material to an investor; and

were made only as of the date of the applicable agreement or such other date or dates as may be specified in the agreement and are subject to more recent developments.

Accordingly, these representations and warranties may not describe the actual state of affairs as of the date they were made or at any other time. The Partnership acknowledges that, notwithstanding the inclusion of the foregoing cautionary statements, it is responsible for considering whether additional specific disclosures of material information regarding material contractual provisions are required to make the statements in this Form 10-K not misleading. Additional information about the Partnership may be found elsewhere in this Form 10-K and the Partnership’s other public filings, which are available without charge through the SEC’s website at http://www.sec.gov.

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

ANGELES PARTNERS X By: Angeles Realty Corporation Its General Partner By: /s/Steven D. Cordes Steven D. Cordes Senior Vice President By: /s/Stephen B. Waters Stephen B. Waters Senior Director of Partnership Accounting Date: March 2928, ~~2010~~2011

Pursuant to the requirements of the Securities Exchange Act, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

/s/John Bezzant	Director and ~~Senior~~Executive	Date: March 2928, ~~2010~~2011
John Bezzant	Vice President
/s/Steven D. Cordes	Director and Senior	Date: March 2928, ~~2010~~2011
Steven D. Cordes	Vice President
/s/Stephen B. Waters	Senior Director of Partnership	Date: March 2928, ~~2010~~2011
Stephen B. Waters	Accounting

ANGELES PARTNERS X

EXHIBIT INDEX

Exhibit Number Description

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

10.4 26 Purchase and Sale ~~Agreement~~Contract ~~with Exhibits~~dated -October 18, 2010 between Carriage ~~Hills~~APX, ~~Apartments~~a Michigan Limited Partnership, and DTN Development Group, Inc., a Michigan corporation, filed in Current Report on Form 8-K dated ~~July~~ ~~30,~~October ~~1982~~18, ~~and~~2010 and incorporated herein by reference.

10.2327 ~~Future~~First ~~Advance~~Amendment ~~Mortgage~~to Purchase and Sale Contract dated ~~September~~November 2111, ~~2007~~2010 between Carriage APX, a Michigan ~~limited~~Limited ~~partnership~~Partnership, and ~~Transamerica~~DTN ~~Occidental~~Development ~~Life~~Group, ~~Insurance Company~~Inc., ana Michigan ~~Iowa~~ corporation, filed in Current Report on Form 8-K dated ~~September~~ 21November 11, 2010 ~~2007~~ and incorporated herein by reference.

10.2428 ~~Secured~~Second ~~Promissory~~Amendment ~~Note~~to Purchase and Sale Contract dated ~~September~~December 212, ~~2007~~2010 between Carriage APX, a Michigan limited partnership, and ~~Transamerica~~Carriage ~~Occidental~~Hill ~~Life~~Meridian, ~~Insurance Company~~LLC, ana Michigan ~~Iowa~~limited ~~corporation~~liability company, filed in Current Report on Form 8-K dated ~~September~~December 212, ~~2007~~2010 and incorporated herein by reference.

10.2529 ~~Carveout~~Third ~~Guarantee~~Amendment to Purchase and ~~Indemnity~~Sale ~~Agreement~~Contract dated ~~September~~December 2128, ~~2007~~2010 between ~~AIMCO~~Carriage ~~Properties~~APX, ~~L.P.,~~ a ~~Delaware~~Michigan limited partnership, and ~~Transamerica Occidental~~Carriage ~~Life~~Hill ~~Insurance~~Meridian, ~~Company~~LLC, ana Michigan ~~Iowa~~limited ~~corporation~~liability company, filed in Current Report on Form 8-K dated December ~~September 21~~28, ~~2007~~2010 and incorporated herein by reference.

31.1 Certification of equivalent of Chief Executive Officer pursuant to Securities Exchange Act Rules 13a-14(a)/15d-14(a), as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

31.2 Certification of equivalent of Chief Financial Officer pursuant to Securities Exchange Act Rules 13a-14(a)/15d-14(a), as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

32.1 Certification of equivalent of Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

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

Filing Compare · ANGELES PARTNERS X