EXHIBIT 23.3


                        CONSENT OF INDEPENDENT AUDITORS



To the Board of Directors and
Stockholders of LTC Properties, Inc.


     We consent to the reference to our firm under the caption "Experts" in the
Registration Statement (Form S-3) of LTC Properties, Inc. for the registration
of Common Stock, par value $.01 per share, Debt Securities issuable in Series
and Preferred Stock issuable in Series and to the incorporation by reference
therein of our report dated January 13, 1997, except for note 10, as to which
the date is February 1, 1997, with respect to the consolidated financial
statements and financial statement schedules of LTC Properties, Inc. included in
its Annual Report (Form 10-K) for the year ended December 31, 1996, filed with
the Securities and Exchange Commission.

                                                         ERNST & YOUNG LLP

Los Angeles, California
April 21, 1997