SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549

                                   ----------

                                  SCHEDULE TO/A
                                 (Rule 14d-100)
            TENDER OFFER STATEMENT UNDER SECTION 14(d)(1) OR 13(e)(1)
                     OF THE SECURITIES EXCHANGE ACT OF 1934

                                (Amendment No. 5)
                            (Amended Final Amendment)


                       ANGELES INCOME PROPERTIES, LTD. III
                       (Name of Subject Company (Issuer))

                        AIMCO PROPERTIES, L.P. -- OFFEROR
            (Names of Filing Persons (Identifying Status as Offeror,
                            Issuer or Other Person))

                            LIMITED PARTNERSHIP UNITS
                         (Title of Class of Securities)

                                      NONE
                      (CUSIP Number of Class of Securities)

                                 Patrick J. Foye
                            Executive Vice President
                   Apartment Investment and Management Company
                           Colorado Center, Tower Two
                   2000 South Colorado Boulevard, Suite 2-1000
                             Denver, Colorado 80222
                                 (303) 757-8081
- --------------------------------------------------------------------------------
                 (Name, Address, and Telephone Numbers of Person
  Authorized to Receive Notices and Communications on Behalf of Filing Persons)

                                    Copy To:
                                Gregory M. Chait
                                  Robert Barker
                     Powell, Goldstein, Frazer & Murphy LLP
                     191 Peachtree Street, N.E., Suite 1600
                             Atlanta, Georgia 30303
                                 (404) 572-6600

                            CALCULATION OF FILING FEE

    Transaction Valuation*                 Amount of Filing Fee**
    ----------------------                 ----------------------

    $1,431,177                             $133

*   For purposes of calculating the fee only.
**  Previously paid.

    [ ] Check the box if any part of the fee is offset as provided by Rule
    0-11(a)(2) and identify the filing with which the offsetting fee was
    previously paid. Identify the previous filing by registration statement
    number, or the Form or Schedule and the date of its filing.

    Amount Previously Paid:                          Filing Party:
                              ----------                             ----------
    Form or Registration No.:                        Date Filed:
                               ----------                           -----------

    [ ] Check the box if the filing relates solely to preliminary communications
    made before the commencement of a tender offer.

    Check the appropriate boxes below to designate any transactions to which the
    statement relates:

<Table>
                                                          
    [X] third-party tender offer subject to Rule 14d-1.      [ ] going-private transaction subject to Rule 13e-3.

    [ ] issuer tender offer subject to Rule 13e-4.           [ ] amendment to Schedule 13D under Rule 13d-2.
</Table>

    Check the following box if the filing is a final amendment reporting the
    results of the tender offer: [X]








                             TENDER OFFER STATEMENT

         This is the Amended Final Amendment to the Tender Offer Statement on
Schedule TO filed by AIMCO Properties, L.P., a Delaware limited partnership, in
connection with its tender offer to purchase outstanding units of limited
partnership interest of Angeles Income Properties, Ltd. III, a California
limited partnership, at a price of $33.00 per unit in cash, subject to the
conditions set forth in the Offer to Purchase, dated May 7, 2002, and in the
related Letter of Transmittal and Acknowledgment and Agreement, which, as
amended and supplemented from time to time, together constitute the tender
offer.

         At midnight, New York City time, on June 25, 2002, the offer expired
pursuant to its terms. A total of 3,683 units, representing approximately
4.2% of the outstanding units, were validly tendered and not withdrawn
pursuant to the offer. The Final Amendment previously filed incorrectly omitted
to include 1 unit that was also acquired in the offer. AIMCO Properties, L.P.
has accepted for payment all of the units at a price of $33.00 per unit.








                                    SIGNATURE

         After due inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.

Dated: July 10, 2002
                                     AIMCO PROPERTIES, L.P.

                                     By: AIMCO-GP, INC.
                                         (General Partner)

                                     AIMCO-GP, INC.

                                     APARTMENT INVESTMENT
                                     AND MANAGEMENT COMPANY


                                     By:      /s/  Patrick J. Foye
                                         --------------------------------------
                                         Executive Vice President
                                         of each of the foregoing entities