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In an apartment complex that is providing wireless access however signal and connectivity is not stable at all.  I was walking around and noticed that the AP's are installed outside on the poles right below the where the pole from the light itself connects to the vertical pole.  Also there is a horizontal electric line going from one pole to another (same height almost)

Wanted to get opinions if that is a good design wouldn't that street light cause interference.  Shouldn't these AP's be installed a little below ?  I can probably take a picture and post that too if needed for better idea if needed.

Wow how disappointing not even a single reply or feedback.

Light works on different frequency spectrum compared  with WLAN frequencies, and should not cause any interference to WLAN.  

Sorry, I missed this post -- it's fair to say that the performance issues can't be attributed to the lights or cables without more information.  If you look at statistics on the AP, or even better, grab a packet capture, then you can start to narrow down the cause.  A site survey and RF survey would also give valuable information.
Based on the info you've given so far, it could be:

1. AP/client configuration
   
2. Poor channel planning
3. Insufficient coverage plan
4. Poor AP placement
5. RFI
6. EMI
7. Poor antenna choice
8. Slow Internet uplink
9. Cabling errors
10. Firewall restrictions
11. Traffic shaping
12. Any other common network issue

If you want to post logs, packet captures, spectrum analysis data, configurations, or any other data I'm sure that many (including myself) are willing to help you out.
To answer the original question, yes, the AP placement could be incorrect.  But without more information it's impossible to tell whether or not this is responsible for the unstable connectivity.  Cheers!
--@@ron