SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549

                                 SCHEDULE TO/A

                               (AMENDMENT NO. 7)

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

                                (FINAL AMENDMENT)
                                       AND
                                 SCHEDULE 13D/A
                    UNDER THE SECURITIES EXCHANGE ACT OF 1934
                               (AMENDMENT NO. 27)

                           Century Properties Fund XV
- --------------------------------------------------------------------------------
                       (Name of Subject Company (Issuer))

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

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

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

                                 Martha L. Long
                   Apartment Investment and Management Company
                                55 Beattie Place
                                   PO Box 1089
                        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
                ----------------------          --------------------
                     $2,824,733.34                     $332.47


*    For purposes of calculating the fee only. This amount assumes the purchase
     of 28,532.66 units of limited partnership interest of the subject
     partnership for $99.00 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 $117.70 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.

Amount Previously Paid: $332.47             Filing Party: AIMCO Properties, L.P.

Form or Registration No.: Schedule To/13E-3 Date Filed: February 16, 2005
                          Schedule To/13E-3 Date Filed: June 7, 2005

[ ]  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

[X]  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: [X]


                                       2



CUSIP No.   NONE

1.    NAME OF REPORTING PERSONS:  AIMCO PROPERTIES, L.P.
      S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only):
      84-1275721

2.    CHECK THE APPROPRIATE BOX IF A MEMBER OF GROUP
      (a)     [ ]
      (b)     [X]

3.    SEC USE ONLY

4.    SOURCE OF FUNDS
      WC

5.    (CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
      ITEMS 2(d) OR 2(e))
                                                                             [ ]

6.    CITIZENSHIP OR PLACE OF ORGANIZATION
      Delaware

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH

      7.    SOLE VOTING POWER
            --

      8.    SHARED VOTING POWER
            64,286.34 Units

      9.    SOLE DISPOSITIVE POWER
            --

      10.   SHARED DISPOSITIVE POWER
            64,286.34 Units

11.   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
      64,286.34 Units

12.   CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
                                                                             [ ]

13.   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
      Approximately 71.45%

14.   TYPE OF REPORTING PERSON
      PN


                                       3



CUSIP No.   NONE

1.    NAME OF REPORTING PERSONS:  AIMCO-GP, INC.
      S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only)

2.    CHECK THE APPROPRIATE BOX IF A MEMBER OF GROUP
      (a)     [ ]
      (b)     [X]

3.    SEC USE ONLY

4.    SOURCE OF FUNDS
      Not Applicable

5.    (CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
      ITEMS 2(d) OR 2(e))
                                                                             [ ]

6.    CITIZENSHIP OR PLACE OF ORGANIZATION
      Delaware

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH

      7.    SOLE VOTING POWER
            --

      8.    SHARED VOTING POWER
            64,286.34 Units

      9.    SOLE DISPOSITIVE POWER
            --

      10.   SHARED DISPOSITIVE POWER
            64,286.34 Units

11.   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
      64,286.34 Units

12.   CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
                                                                             [ ]

13.   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
      Approximately 71.45%

14.   TYPE OF REPORTING PERSON
      CO


                                       4



CUSIP No.   NONE

1.    NAME OF REPORTING PERSONS:  APARTMENT INVESTMENT AND MANAGEMENT COMPANY
      S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only):
      84-1259577

2.    CHECK THE APPROPRIATE BOX IF A MEMBER OF GROUP
      (a)     [ ]
      (b)     [X]

3.    SEC USE ONLY

4.    SOURCE OF FUNDS
      Not Applicable

5.    (CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
      ITEMS 2(d) OR 2(e))
                                                                             [ ]

6.    CITIZENSHIP OR PLACE OF ORGANIZATION
      Maryland

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH

      7.    SOLE VOTING POWER
            --

      8.    SHARED VOTING POWER
            64,286.34 Units

      9.    SOLE DISPOSITIVE POWER
            --

      10.   SHARED DISPOSITIVE POWER
            64,286.34 Units

11.   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
      64,286.34 Units

12.   CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
                                                                             [ ]

13.   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
      Approximately 71.45%

14.   TYPE OF REPORTING PERSON
      CO


                                       5


CUSIP No.   NONE

1.    NAME OF REPORTING PERSONS:  AIMCO IPLP, L.P.
      S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only):

2.    CHECK THE APPROPRIATE BOX IF A MEMBER OF GROUP
      (a)     [ ]
      (b)     [X]

3.    SEC USE ONLY

4.    SOURCE OF FUNDS
      Not Applicable

5.    (CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
      2(d) OR 2(e))
                                                                             [ ]

6.    CITIZENSHIP OR PLACE OF ORGANIZATION
      Delaware

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH

      7.    SOLE VOTING POWER
            --

      8.    SHARED VOTING POWER
            39,802.17 Units

      9.    SOLE DISPOSITIVE POWER
            --

      10.   SHARED DISPOSITIVE POWER
            39,802.17 Units

11.   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
      39,802.17 Units

12.   CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
                                                                             [ ]

13.   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
      Approximately 44.23%

14.   TYPE OF REPORTING PERSON
      PN


                                       6


CUSIP No.   NONE

1.    NAME OF REPORTING PERSONS:  AIMCO/IPT, INC.
      S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only):

2.    CHECK THE APPROPRIATE BOX IF A MEMBER OF GROUP
      (a)     [ ]
      (b)     [X]

3.    SEC USE ONLY

4.    SOURCE OF FUNDS
      Not Applicable

5.    (CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
      2(d) OR 2(e))
                                                                             [ ]

6.    CITIZENSHIP OR PLACE OF ORGANIZATION
      Delaware

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH

      7.    SOLE VOTING POWER
            --

      8.    SHARED VOTING POWER
            39,902.17 Units

      9.    SOLE DISPOSITIVE POWER
            --

      10.   SHARED DISPOSITIVE POWER
            39,902.17 Units

11.   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
      39,902.17 Units

12.   CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
                                                                             [ ]

13.   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
      Approximately 44.35%

14.   TYPE OF REPORTING PERSON
      CO


                                       7



CUSIP No.   NONE

1.    NAME OF REPORTING PERSONS:  MADISON RIVER PROPERTIES, L.L.C.
      S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only):

2.    CHECK THE APPROPRIATE BOX IF A MEMBER OF GROUP
      (a)     [ ]
      (b)     [X]

3.    SEC USE ONLY

4.    SOURCE OF FUNDS
      Not Applicable

5.    (CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
      2(d) OR 2(e))
                                                                             [ ]

6.    CITIZENSHIP OR PLACE OF ORGANIZATION
      Delaware

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH

      7.    SOLE VOTING POWER
            --

      8.    SHARED VOTING POWER
            4,222 Units

      9.    SOLE DISPOSITIVE POWER
            --

      10.   SHARED DISPOSITIVE POWER
            4,222 Units

11.   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
      4,222 Units

12.   CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
                                                                             [ ]

13.   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
      Approximately 4.7%

14.   TYPE OF REPORTING PERSON
      OO


                                       8


              AMENDMENT NO. 7 TO/AMENDMENT NO. 27 TO SCHEDULE 13D

         This Statement constitutes (a) Amendment No. 7 to the Tender Offer
Statement and Rule 13e-3 Transaction Statement on Schedule TO initially filed on
February 16, 2005, as amended by Amendment No. 1 thereto filed on March 15,
2005, Amendment No. 2 filed on March 28, 2005, Amendment No. 3 filed on April
27, 2005, Amendment No. 4 filed on May 31, 2005, Amendment No. 5 filed on June
7, 2005, and Amendment No. 6 filed on June 21, 2005 (the "Schedule TO"), filed
by AIMCO Properties, L.P., AIMCO-GP, Inc., Apartment Investment and Management
Company and Fox Capital Management Corporation relating to the offer by AIMCO
Properties, L.P., a Delaware limited partnership, to purchase units of limited
partnership interest ("Units") of Century Properties Fund XV, a California
limited partnership (the "Partnership"), at a price of $99.00 per unit in cash,
subject to the conditions set forth in the Amended and Restated Offer to
Purchase dated June 6, 2005 (as amended or supplemented from time to time, the
"Offer to Purchase") and in the related Amended and Restated Letter of
Transmittal (as amended or supplemented from time to time, the "Letter of
Transmittal" and, together with the Offer to Purchase, the "Offer"); and (b)
Amendment No. 27 to the Schedule 13D filed by AIMCO Properties, L.P., Apartment
Investment and Management Company, AIMCO-GP, Inc., AIMCO IPLP, L.P., AIMCO/IPT,
Inc. and Madison River Properties, L.L.C. (the "Schedule 13D"). 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 Offer to
Purchase.


ITEM 8.     INTEREST IN SECURITIES OF THE SUBJECT COMPANY.

      Item 8 of the Schedule TO is amended and supplemented as follows:

      At midnight, New York City time, on June 27, 2005, the Offer expired
pursuant to its terms. A total of 2,839 units, representing approximately 3.16%
of the outstanding units, were validly tendered and not withdrawn pursuant to
the Offer. AIMCO Properties, L.P. has accepted for payment all of those Units.


                                       9

                                    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: July 12, 2005

                                              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


                                              FOX CAPITAL MANAGEMENT CORPORATION

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


                                              AIMCO IPLP, L.P.


                                              By: AIMCO/IPT, INC.
                                                  Its General Partner

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


                                              AIMCO/IPT INC.

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


                                              MADISON RIVER PROPERTIES, L.L.C.

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




                                       10