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                                                                EXHIBIT 23.10.37
 
                        CONSENT OF INDEPENDENT AUDITORS
 
     We consent to the reference to our firm under the caption "Experts" in the
Prospectus Supplement of AIMCO Properties L.P. related to the offer to acquire
units of limited partnership interest of Shelter Properties III Limited
Partnership and to the incorporation by reference therein of our report dated
January 23, 1998, with respect to the consolidated financial statements of
Shelter Properties III Limited Partnership included in its Annual Report (Form
10-KSB) for the year ended December 31, 1997, filed with the Securities and
Exchange Commission.
 
                                                  /s/ ERNST & YOUNG LLP
Greenville, South Carolina
October 27, 1998