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                                                                   EXHIBIT 23.4 


                        CONSENT OF INDEPENDENT AUDITORS

   
We consent to the reference to our firm under the caption "Experts" in 
Amendment No. 11 to the Registration Statement on Form S-4 and related 
Prospectus of Apartment Investment and Management Company for the registration 
of Preferred Stock and Class A Common Stock and of AIMCO Properties, L.P. for 
the registration of $200,000,000 of its Partnership Preferred Units and 
Partnership Common Units, and to the incorporation by reference therein of our 
report dated March 27, 1998, except for Note 1, as to which the date is 
September 24, 1998, with respect to the Historical Summary of Gross Income and 
Direct Operating Expenses of Sun Lake Apartments for each of the three years in 
the period ended December 31, 1997 included in Amendment No. 3 to Apartment 
Investment and Management Company's Current Report on Form 8-K dated November 
2, 1998 filed with the Securities and Exchange Commission.
    


                                         /s/ Ernst & Young LLP

   
Indianapolis, Indiana
March 22, 1999