SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549

                                  SCHEDULE TO/A
                                (AMENDMENT NO. 2)

        TENDER OFFER STATEMENT UNDER SECTION 14(D)(1) OR 13(E)(1) OF THE
                        SECURITIES EXCHANGE ACT OF 1934

                       Angeles Income Properties, Ltd. II
- --------------------------------------------------------------------------------
                       (Name of Subject Company (Issuer))

                             AIMCO Properties, L.P.
                   Apartment Investment and Management Company
                                 AIMCO-GP, Inc.
                          Angeles Realty Corporation II
- --------------------------------------------------------------------------------
                      (Names of Filing Persons (Offerors))

                            Limited Partnership Units
- --------------------------------------------------------------------------------
                           (Title of Class Securities)

                                      None
- --------------------------------------------------------------------------------
                       (CUSIP Number of Class Securities)

                                 Martha L. Long
                   Apartment Investment and Management Company
                                55 Beattie Place
                        Greenville, South Carolina 29602
                                 (864) 239-1000
- --------------------------------------------------------------------------------
                 (Name, address, and telephone numbers of person
               authorized to receive notices and communications on
                            behalf of filing persons)

                                    Copy to:

                                 Joseph A. Coco
                    Skadden, Arps, Slate, Meagher & Flom LLP
                   Four Times Square New York, New York 10036
                                 (212) 735-3000

                                       and

                              Jonathan L. Friedman
                    Skadden, Arps, Slate, Meagher & Flom LLP
                             300 South Grand Avenue
                          Los Angeles, California 90071
                                 (213) 687-5000

                            Calculation of Filing Fee

               TRANSACTION VALUATION*          AMOUNT OF FILING FEE
               ----------------------          --------------------
                   $ 4,172,072.19                    $ 528.60





*    For purposes of calculating the fee only. This amount assumes the purchase
     of 35,151 units of limited partnership interest of the subject partnership
     for $118.69 per unit. The amount of the filing fee, calculated in
     accordance with Section 14(g)(1)(B)(3) and Rule 0-11(d) under the
     Securities Exchange Act of 1934, as amended, equals $126.70 per million of
     the aggregate amount of cash offered by the bidder.

[X]  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.

<Table>
                                                      
Amount Previously Paid:    $528.60              Filing Party:  AIMCO Properties, L.P.

Form or Registration No.:  Schedule TO/13E-3    Date Filed:    November 5, 2004
</Table>

[ ]  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:

[X] third-party tender offer subject to Rule 14d-1

[ ] issuer tender offer subject to Rule 13e-4

[X] going-private transaction subject to Rule 13e-3

[ ] amendment to Schedule 13D under Rule 13d-2

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




                                       2




                         AMENDMENT NO. 2 TO SCHEDULE TO

     This Amendment No. 2 amends and supplements the Tender Offer Statement and
Rule 13e-3 Transaction Statement on Schedule TO initially filed on November 5,
2004, as amended by Amendment No. 1 thereto (the "Schedule TO"). This Amendment
No. 2 relates to the offer by AIMCO Properties, L.P., a Delaware limited
partnership, to purchase units of limited partnership interest ("Units") of
Angeles Income Properties, Ltd II, a California limited partnership (the
"Partnership"), at a price of $118.69 per unit in cash, subject to the
conditions set forth in the Litigation Settlement Offer dated November 5, 2004
and in the related Letter of Transmittal (which, together with any supplements
or amendments, collectively constitute the "Offer"). Copies of the Litigation
Settlement Offer and the Letter of Transmittal are filed with the Schedule TO as
Exhibits (a)(1) and (a)(2), respectively. The item numbers and responses thereto
below are in accordance with the requirements of Schedule TO. Unless defined
herein, capitalized terms used and not otherwise defined herein have the
respective meanings ascribed to such terms in the Litigation Settlement Offer.

     On December 10, 2004, AIMCO Properties, L.P. mailed a letter to the holders
of Units of the Partnership and issued a press release announcing the extension
of the expiration date of the Offer from midnight, New York City time, on
December 15, 2004, to midnight, New York City time on December 28, 2004. Copies
of the press release and letter have been filed as Exhibits (a)(5) and (a)(6),
respectively, to this Amendment No. 2.

ITEM 12.  EXHIBITS.

     Item 12 of the Schedule TO is amended and supplemented as follows:

     (a)(5) Press Release, dated December 10, 2004.

     (a)(6) Letter, dated December 10, 2004, from AIMCO Properties, L.P. to the
            limited partners of Angeles Income Properties, Ltd II.

     (a)(7) Letter of Transmittal and related Instructions (Exhibit (a)(2) to
            Angeles Income Properties, Ltd. II's Schedule TO, filed with the
            Securities and Exchange Commission on November 5, 2004, is
            incorporated herein by reference).


                                       3



                                    SIGNATURE

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

Date:  December 10, 2004
                                     AIMCO PROPERTIES, L.P.

                                     By:  AIMCO-GP, INC.
                                          Its General Partner

                                     By:  /s/  Martha L. Long
                                          --------------------------------------
                                          Martha L. Long
                                          Senior Vice President


                                     APARTMENT INVESTMENT AND MANAGEMENT COMPANY

                                     By:  /s/  Martha L. Long
                                           -------------------------------------
                                          Martha L. Long
                                          Senior Vice President


                                     AIMCO-GP, INC.

                                     By:  /s/  Martha L. Long
                                           -------------------------------------
                                          Martha L. Long
                                          Senior Vice President


                                     ANGELES REALTY CORPORATION II

                                     By:  /s/  Martha L. Long
                                           -------------------------------------
                                          Martha L. Long
                                          Senior Vice President




                                       4




                                  EXHIBIT INDEX

<Table>
<Caption>
EXHIBIT NO.                                DESCRIPTION
- -----------     -------------------------------------------------------------------
             
(a)(5)          Press Release, dated December 10, 2004.

(a)(6)          Letter, dated December 10, 2004, from AIMCO Properties, L.P. to the
                limited partners of Angeles Income Properties, Ltd II.

(a)(7)          Letter of Transmittal and related Instructions (Exhibit (a)(2) to
                Angeles Income Properties, Ltd. II's Schedule TO, filed with the
                Securities and Exchange Commission on November 5, 2004, is incorporated
                herein by reference).
</Table>



                                       5