Exhibit (a)(3)



July 26, 2007

TO:          UNIT HOLDERS OF DREXEL BURNHAM LAMBERT REAL ESTATE ASSOCIATES II

SUBJECT:     OFFER TO PURCHASE UNITS

Dear Unit Holder:

As  described  in  the  enclosed  Offer  to  Purchase  and  related  Letters  of
Transmittal   (the  "Offer")  the   Purchasers   named  in  the  attached  Offer
(collectively  the  "Purchasers")  are offering to purchase up to 7,454 Units of
limited partnership interest (the "Units") in DREXEL BURNHAM LAMBERT REAL ESTATE
ASSOCIATES II (the "Partnership") at a purchase price equal to:

                                  $290 per Unit

The Offer will provide you with an  opportunity  to liquidate  all, or a portion
of, your investment in DREXEL BURNHAM LAMBERT REAL ESTATE  ASSOCIATES II without
the usual transaction costs associated with market sales or partnership transfer
fees. Reasons you may wish to sell your Units include:

      o     UNCERTAINTY OF PARTNERSHIP TERMINATION.  Our offer provides you with
            the  opportunity  to  receive  a  guaranteed  amount  of  money in a
            specified time period.  The general  partner has given no indication
            when  the  partnership  will  be  liquidating.  The  partnership  is
            currently   not  set  to   terminate   until   December   31,  2032.
            Additionally,  in response to the purchaser's last tender offer, the
            general  partner stated it "is  considering the sale of Presidential
            House  Apartments,  a 203-unit  apartment  complex  located in North
            Miami Beach,  Florida.  However, the property has not been listed or
            marketed  and no  assurances  can be given  regarding  the timing or
            amount  of a sale,  if at  all."  Therefore,  investors  may not see
            liquidity for some time.

      o     NO   DISTRIBUTIONS   SINCE  2003.  The   Partnership   has  paid  no
            distributions since 2003! The Partnership has stated that "there can
            be no assurance that the Partnership will generate  sufficient funds
            from   operations   after   capital   expenditures   to  permit  any
            distributions to its partners in 2007 or subsequent periods."

      o     NO FUTURE  IRS FILING  REQUIREMENTS.  The tax year in which you sell
            your Units will be the final year for which you will be obligated to
            file a K-1 for the  Partnership  with  your  tax  return.  This  may
            represent a reduction in costs  associated  with filing  complicated
            tax  returns.  Your  decision  to sell may have other  favorable  or
            unfavorable tax  consequences  and potential  sellers should consult
            their individual tax advisers.

      o     ELIMINATION OF RETIREMENT  ACCOUNT FEES. If you sell your Units, you
            may avoid  incurring fees for having this  investment in your IRA or
            retirement   account.   Because  many   custodians   have   transfer
            restrictions  against limited partnership units or charge additional
            fees for holding this type of asset,  many  investors are faced with
            the task of searching  for a way to avoid these fees.  Once our cash
            payment is sent directly to your retirement account, you are free to
            consolidate  your  retirement  accounts or  transfer  the funds to a
            custodian that offers lower fees.

After  carefully  reading the enclosed Offer, if you elect to tender your Units,
mail (using the  enclosed  pre-addressed,  postage  paid  envelope) or fax (then
mail) a duly completed and executed copy of the Letter of  Transmittal  (printed
on pink paper) and change of address forms, and any other documents  required by
the Letter of Transmittal, to the Depositary for the Offer at:

                         MacKenzie Patterson Fuller, LP
                               1640 School Street
                            Moraga, California 94556
                            Facsimile: (925) 631-9119

If you have any  questions or need  assistance,  please call the  Depositary  at
800-854-8357.

This Offer expires (unless extended) August 30, 2007.