UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 10-Q

(Mark One)


   X    QUARTERLY  REPORT  PURSUANT  TO  SECTION 13 OR 15(d) OF  THE  SECURITIES
------- EXCHANGE ACT OF 1934


               For the quarterly period ended September 25, 2002

                                       OR

        TRANSITION  REPORT  PURSUANT TO  SECTION  13 OR 15(d)  OF THE SECURITIES
------- EXCHANGE ACT OF 1934


                         Commission File Number 0-13782


                              CAMBRIDGE ADVANTAGED
                         PROPERTIES LIMITED PARTNERSHIP
                         ------------------------------
             (Exact name of registrant as specified in its charter)


                  Delaware                                        13-3228969
-------------------------------                              -------------------
(State or other jurisdiction of                              (I.R.S. Employer
incorporation or organization)                               Identification No.)


625 Madison Avenue, New York, New York                                 10022
----------------------------------------                          --------------
(Address of principal executive offices)                            (Zip Code)


Registrant's telephone number, including area code (212)421-5333


     Indicate  by check mark  whether the  registrant  (1) has filed all reports
required to be filed by Section 13 or 15(d) of the  Securities  Exchange  Act of
1934  during  the  preceding  12 months  (or for such  shorter  period  that the
registrant was required to file such reports),  and (2) has been subject to such
filing requirements for the past 90 days. Yes  X   No
                                             -----   -----
<PAGE>

                         PART I - Financial Information

Item 1.  Financial Statements

                         CAMBRIDGE ADVANTAGED PROPERTIES
                      LIMITED PARTNERSHIP AND SUBSIDIARIES
                           CONSOLIDATED BALANCE SHEETS
                                   (Unaudited)
<TABLE>
<CAPTION>
                                                  ============      ============
                                                  September 25,       March 25,
                                                      2002              2002*
                                                  ------------      ------------

<S>                                               <C>               <C>
ASSETS
Property and equipment - less
  accumulated depreciation of
  $4,086,086 and $7,639,553,
  respectively                                    $  4,372,003      $  5,470,303
Property and equipment -
  held for sale - less accumulated
  depreciation of $8,234,808 and
  $16,326,084, respectively                          3,840,275        11,548,976
Cash and cash equivalents                            7,641,475         4,967,577
Cash - restricted for tenants'
  security deposits                                    262,398           304,539
Mortgage escrow deposits                             3,235,677         4,376,911
Prepaid expenses and other assets                    1,047,305           758,693
                                                  ------------      ------------

  Total assets                                    $ 20,399,133      $ 27,426,999
                                                  ============      ============
</TABLE>


                                       2
<PAGE>

                         CAMBRIDGE ADVANTAGED PROPERTIES
                      LIMITED PARTNERSHIP AND SUBSIDIARIES
                           CONSOLIDATED BALANCE SHEETS
                                   (Unaudited)
                                   (continued)
<TABLE>
<CAPTION>
                                                  ============     ============
                                                  September 25,      March 25,
                                                      2002             2002*
                                                  ------------     ------------

<S>                                               <C>              <C>
LIABILITIES AND PARTNERS' DEFICIT
Liabilities
  Mortgage notes payable                          $  6,868,123     $ 13,137,483
  Purchase Money Notes payable
   (Note 2)                                          5,513,598        9,861,837
  Due to selling partners (Note 2)                  14,698,908       22,957,424
  Deferred revenue on sale of
   properties                                                0        5,905,828
  Accounts payable, accrued
   expenses and other liabilities                      743,348          587,491
  Tenants' security deposits payable                   219,514          283,920
  Due to general partners of
   subsidiaries and their affiliates                   111,728          114,744
  Due to general partners and
   affiliates                                        3,214,194        3,329,471
                                                  ------------     ------------

Total liabilities                                   31,369,413       56,178,198
                                                  ------------     ------------

Minority interest                                      131,340          222,153
                                                  ------------     ------------
Commitments and contingencies
  (Note 5)
Partners' deficit:
  Limited partners                                 (10,453,079)     (28,146,094)
  General partners                                    (648,541)        (827,258)
                                                  ------------     ------------

Total partners' deficit                            (11,101,620)     (28,973,352)
                                                  ------------     ------------

Total liabilities and partners' deficit           $ 20,399,133     $ 27,426,999
                                                  ============     ============
</TABLE>

*Reclassified for comparative purposes.

See accompanying notes to consolidated financial statements.

                                       3
<PAGE>

                         CAMBRIDGE ADVANTAGED PROPERTIES
                      LIMITED PARTNERSHIP AND SUBSIDIARIES
                      CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (Unaudited)
<TABLE>
<CAPTION>

                     ===========================     ==========================
                         Three Months Ended               Six Months Ended
                             September 25,                  September 25,
                     ---------------------------     --------------------------
                        2002            2001            2002            2001
                     ---------------------------     --------------------------

<S>                  <C>             <C>             <C>            <C>
Rentals, net         $ 1,187,916     $ 2,972,306     $ 2,744,759    $ 6,330,360
Other                     76,325         227,487         239,816        413,602
Gain on sale
  of properties
  (Note 4)             1,960,003       2,664,619       2,222,376      1,657,081
                     -----------     -----------     -----------    -----------
Total revenues         3,224,244       5,864,412       5,206,951      8,401,043
                     -----------     -----------     -----------    -----------

Expenses
Administrative
  and management         306,180         683,697         645,802      1,364,535
Administrative
  and management-
  related parties
  (Note 3)               354,014         475,193         730,465        959,430
Operating                193,797         558,473         548,000      1,361,591
Repairs and
  maintenance            224,929         758,529         549,284      1,539,926
Taxes and insur-
  ance                   332,381         388,125         572,183        797,783
Interest                 331,554       1,225,944         747,215      2,767,487
Depreciation             121,295         320,066         249,841        764,854
                     -----------     -----------     -----------    -----------
Total expenses         1,864,150       4,410,027       4,042,790      9,555,606
                     -----------     -----------     -----------    -----------

Net income (loss)
  before minority
  interest             1,360,094       1,454,385       1,164,161     (1,154,563)
Minority interest
  in (income) loss
  of subsidiaries       (145,658)        109,450         (80,930)       350,578
                     -----------     -----------     -----------    -----------
Income (loss) before
  extra-ordinary item  1,214,436       1,563,835       1,083,231       (803,985)
Extraordinary
  item-forgiveness
  of indebtedness
  income (Note 4)     11,104,825      10,473,627      16,788,501     14,312,983
                     -----------     -----------     -----------    -----------
Net income           $12,319,261     $12,037,462     $17,871,732    $13,508,998
                     ===========     ===========     ===========    ===========
</TABLE>

                                       4
<PAGE>
                        CAMBRIDGE ADVANTAGED PROPERTIES
                      LIMITED PARTNERSHIP AND SUBSIDIARIES
                      CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (Unaudited)
<TABLE>
<CAPTION>

                     ===========================     ==========================
                         Three Months Ended               Six Months Ended
                             September 25,                  September 25,
                     ---------------------------     --------------------------
                        2002            2001            2002            2001
                     ---------------------------     --------------------------

<S>                  <C>             <C>             <C>            <C>
Limited Partners
  Share:
Income (loss) before
  extraordinary item $ 1,202,292     $ 1,548,196     $ 1,072,399    $  (795,945)
Extraordinary item    10,993,777      10,368,891      16,620,616     14,169,853
                     -----------     -----------     -----------    -----------
Net income           $12,196,069     $11,917,087     $17,693,015    $13,373,908
                     ===========     ===========     ===========    ===========

Number of units
  outstanding             12,074          12,074          12,074         12,074
                     ===========     ===========     ===========    ===========
Income (loss) before
extraordinary item
  per limited part-
  ner unit           $       100     $       128     $        89    $       (66)
Extraordinary item
  per limited part-
  ner unit                   910             859           1,376          1,174
                     -----------     -----------     -----------    -----------
Net income per limit-
  ed partner unit    $     1,010     $       987     $     1,465    $     1,108
                     ===========     ===========     ===========    ===========
</TABLE>

See accompanying notes to consolidated financial statements.

                                       5
<PAGE>


                         CAMBRIDGE ADVANTAGED PROPERTIES
                      LIMITED PARTNERSHIP AND SUBSIDIARIES
                      CONSOLIDATED STATEMENT OF CHANGES IN
                               PARTNERS' DEFICIT
                                   (Unaudited)

<TABLE>
<CAPTION>

                               =================================================
                                                   Limited            General
                                   Total           Partners           Partners
                               -------------------------------------------------
<S>                            <C>               <C>               <C>
Balance -
  March 26, 2002               $(28,973,352)     $(28,146,094)     $   (827,258)

Net income                       17,871,732        17,693,015           178,717
                               ------------      ------------      ------------

Balance -
  September 25, 2002           $(11,101,620)     $(10,453,079)     $   (648,541)
                               ============      ============      ============
</TABLE>


See accompanying notes to consolidated financial statements.

                                       6
<PAGE>


                         CAMBRIDGE ADVANTAGED PROPERTIES
                      LIMITED PARTNERSHIP AND SUBSIDIARIES
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                      INCREASE (DECREASE) IN CASH AND CASH
                                  EQUIVALENTS
                                   (Unaudited)

<TABLE>
<CAPTION>

                                                  ==============================
                                                          Six Months Ended
                                                            September 25,
                                                  ------------------------------
                                                      2002              2001
                                                  ------------------------------

<S>                                               <C>              <C>
Cash flows from operating activities:
Net income                                        $ 17,871,732     $ 13,508,998
                                                  ------------     ------------
Adjustments to reconcile net income
  to net cash used in operating activities:
Gain on sale of properties (Note 4)                 (2,222,376)      (1,657,081)
Extraordinary item-forgiveness of
  indebtedness income (Note 4)                     (16,788,501)     (14,312,983)
Depreciation                                           249,841          764,854
Minority interest in income (loss)
  of subsidiaries                                       80,930         (350,578)
(Increase) decrease in cash-restricted
  for tenants' security deposits                       (19,099)          13,016
Increase in mortgage escrow deposits                   (64,397)        (101,299)
Increase in prepaid
  expenses and other assets                           (256,776)        (360,301)
Increase in due to selling partners                    640,127        2,327,661
Payments of interest to selling partners               (25,472)         (94,019)
Increase (decrease) in accounts payable,
  accrued expenses and other liabilities               508,608       (1,887,603)
Increase in tenants' security
  deposits payable                                      13,844            6,576
Increase in due to general partners of
  subsidiaries and their affiliates                          0              383
Decrease in due to general partners
  of subsidiaries and their affiliates                       0             (410)
Increase in due to general
  partners and affiliates                                9,298          316,687
                                                  ------------     ------------
Total adjustments                                  (17,873,973)     (15,335,097)
                                                  ------------     ------------
Net cash used in operating
  activities                                            (2,241)      (1,826,099)
                                                  ------------     ------------

</TABLE>

                                       7
<PAGE>

                         CAMBRIDGE ADVANTAGED PROPERTIES
                      LIMITED PARTNERSHIP AND SUBSIDIARIES
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                      INCREASE (DECREASE) IN CASH AND CASH
                                   EQUIVALENTS
                                   (Unaudited)
                                   (continued)

<TABLE>
<CAPTION>

                                                  ==============================
                                                          Six Months Ended
                                                            September 25,
                                                  ------------------------------
                                                      2002              2001
                                                  ------------------------------

<S>                                               <C>              <C>
Cash flows from investing activities:
Proceeds from sale of properties                    10,760,000       11,393,542
Acquisitions of property and equipment                (104,607)        (208,766)
Increase in mortgage escrow deposits                  (195,330)        (599,971)
                                                  ------------     ------------

Net cash provided by investing activities           10,460,063       10,584,805
                                                  ------------     ------------

Cash flows from financing activities:
Principal payment of mortgage
  notes payable                                    (5,543,841)       (7,446,822)
Principal payments of purchase
  money notes payable                              (2,068,340)       (3,270,301)
Decrease in capitalization of
  minority interest                                  (171,743)         (155,637)
                                                  ------------     ------------

Net cash used in financing activities               (7,783,924)     (10,872,760)
                                                  ------------     ------------

Net increase (decrease) in cash
  and cash equivalents                              2,673,898        (2,114,054)
Cash and cash equivalents -
  beginning of period                               4,967,577         4,943,694
                                                  ------------     ------------
Cash and cash equivalents -
end of period                                     $  7,641,475     $  2,829,640
                                                  ============     ============

Supplemental disclosures of noncash
  activities:
Increase in property and equipment -
  held for sale reclassified from
  property and equipment                          $          0     $  2,163,925
Decrease in property and equipment,
  net of accumulated depreciation                            0           (2,165)
Increase in deferred revenue on sale
  of properties reclassified from
  purchase money notes payable
  and due to selling partners                                0       10,892,510

</TABLE>

                                       8
<PAGE>
                         CAMBRIDGE ADVANTAGED PROPERTIES
                      LIMITED PARTNERSHIP AND SUBSIDIARIES
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                      INCREASE (DECREASE) IN CASH AND CASH
                                   EQUIVALENTS
                                   (Unaudited)
                                   (continued)

<TABLE>
<CAPTION>

                                                  ==============================
                                                          Six Months Ended
                                                            September 25,
                                                  ------------------------------
                                                      2002              2001
                                                  ------------------------------

<S>                                               <C>              <C>
Forgiveness of indebtedness income
  (Note 4):
Decrease in deferred revenue
  from sale of properties                           (5,683,676)      (3,839,356)
Decrease in purchase money
  note payable                                      (2,279,899)      (1,148,096)
Decrease in due to selling partners                 (8,824,926)      (9,325,531)

Summarized below are the
  components of the gain on
  sale of property:
Decrease in property and equipment,
  and property and equipment-held for
  sale                                               8,661,767        9,008,040
Decrease in cash - restricted for
  tenants' security deposits                            61,240           79,179
Decrease in mortgage
  escrow deposits                                    1,400,961          801,751
(Increase) decrease in prepaid expenses
  and other assets                                     (31,836)         436,814
Decrease in accounts payable, accrued
  expenses and other liabilities                      (574,903)        (161,609)
Decrease in tenant's security deposits
  payable                                              (78,250)         (75,480)
Decrease in due to
  general partners and affiliates                     (124,575)        (166,856)
Decrease in due to general partners
  of subsidiaries and their affiliates                  (3,016)               0
Decrease in due to selling partners                    (48,245)        (185,354)
Decrease in mortgage notes payable                    (725,519)               0
</TABLE>


See accompanying notes to consolidated financial statements.

                                       9
<PAGE>


                         CAMBRIDGE ADVANTAGED PROPERTIES
                      LIMITED PARTNERSHIP AND SUBSIDIARIES
                   Notes to Consolidated Financial Statements
                               September 25, 2002
                                   (Unaudited)

Note 1 - General

The  consolidated  financial  statements for the six months ended  September 25,
2002 and 2001 include the accounts of Cambridge  Advantaged  Properties  Limited
Partnership (the "Partnership") and fourteen and thirty subsidiary partnerships,
respectively    ("subsidiaries,"    "subsidiary    partnerships"    or    "Local
Partnerships"). The Partnership is a limited partner, with an ownership interest
of 98.99% in each of the  subsidiary  partnerships.  Through  the  rights of the
Partnership  and/or an  affiliate  of one of its  General  Partners  (a "General
Partner"),  which affiliate has a contractual obligation to act on behalf of the
Partnership,  to remove the general partner of the subsidiary  partnerships (the
"Local General  Partner") and to approve  certain major  operating and financial
decisions,   the  Partnership  has  a  controlling  financial  interest  in  the
subsidiary partnerships.

For  financial  reporting  purposes,   the  Partnership's  fiscal  quarter  ends
September 25. All subsidiaries  have fiscal quarters ending June 30. Accounts of
the subsidiary  partnerships  have been adjusted for  intercompany  transactions
from July 1 through  September  25. The  Partnership's  fiscal  quarter  ends on
September 25 in order to allow  adequate  time for the  subsidiaries'  financial
statements  to be  prepared  and  consolidated.  The  books and  records  of the
Partnership  are  maintained on the accrual basis of  accounting,  in accordance
with generally accepted accounting principles ("GAAP").

All   intercompany   accounts  and   transactions   have  been   eliminated   in
consolidation.

Increases  (decreases)  in  the  capitalization  of  consolidated   subsidiaries
attributable  to  minority  interest  arise  from  cash  contributions  and cash
distributions to the minority interest partners.

Losses  attributable to minority interests which exceed the minority  interests'
investment  in a subsidiary  have been charged to the  Partnership.  Such losses
aggregated  approximately $0 and $0 and $5,000 and $17,000 for the three and six
months  ended  September  25,  2002 and 2001,  respectively.  The  Partnership's
investment in each subsidiary is equal to the respective  subsidiary's partners'
equity less minority interest capital, if any. In consolidation,  all subsidiary
partnership losses are included in the Partnership's  capital account except for
losses allocated to minority interest capital.

                                       10
<PAGE>

                         CAMBRIDGE ADVANTAGED PROPERTIES
                      LIMITED PARTNERSHIP AND SUBSIDIARIES
                   Notes to Consolidated Financial Statements
                               September 25, 2002
                                   (Unaudited)


The unaudited  financial  statements have been prepared on the same basis as the
audited financial  statements  included in the  Partnership's  Form 10-K for the
year  ended  March  25,  2002.  In the  opinion  of the  General  Partners,  the
accompanying unaudited financial statements contain all adjustments  (consisting
only of normal recurring  adjustments) necessary to present fairly the financial
position of the  Partnership as of September 25, 2002, the results of operations
for the three and six months ended  September 25, 2002 and 2001,  and cash flows
for the six months ended September 25, 2002 and 2001, respectively. However, the
operating  results  for the six  months  ended  September  25,  2002  may not be
indicative of the results for the year.

Certain  information  and  note  disclosures   normally  included  in  financial
statements  prepared in accordance with GAAP have been omitted.  It is suggested
that these consolidated  financial statements should be read in conjunction with
the financial  statements and notes thereto included in the Partnership's  March
25, 2002 Annual Report on Form 10-K.


Note 2 - Purchase Money Notes Payable

Purchase  Money Notes (the  "Purchase  Money  Notes") in the original  amount of
$85,458,825 were issued to the selling  partners of the subsidiary  partnerships
as part of the  purchase  price  and are  secured  only by the  interest  in the
subsidiary  partnership to which the Purchase  Money Note relates.  A portion of
these  Purchase  Money  Notes,  in the  original  amount of  $31,932,568,  is an
obligation  at  the  subsidiary   partnership   level,   whereas  the  remaining
$53,526,257  recorded at the  Partnership  level.  As of September 25, 2002, and
March 25, 2002,  Purchase Money Notes  aggregated  approximately  $5,442,000 and
$9,757,000,  respectively.  The  Purchase  Money Notes  generally  provided  for
compound  interest at rates which,  in general,  ranged from 9% to 10% per annum
through  August 31, 1989.  Thereafter,  simple  interest  has  accrued,  without
further interest  thereon,  through  maturity as extended (see below).  Purchase
Money  Notes at  September  25, 2002 and March 25, 2002  include  $4,336,417  of
interest accrued through August 31, 1989.

                                       11
<PAGE>

                         CAMBRIDGE ADVANTAGED PROPERTIES
                      LIMITED PARTNERSHIP AND SUBSIDIARIES
                   Notes to Consolidated Financial Statements
                               September 25, 2002
                                   (Unaudited)


The Purchase  Money Notes,  which  provide for simple  interest,  will not be in
default  if not less  than  60% of the cash  flow  actually  distributed  to the
Partnership  by  the  corresponding   subsidiary   partnership  (generated  from
operations, as defined) is applied first to accrued interest and then to current
interest  thereon.  Any interest not paid  currently  accrues,  without  further
interest  thereon,  through the extended  due date of the  Purchase  Money Note.
Continued  accrual of such interest  beyond the initial term,  without  payment,
reduces the effective  interest rate of 9%. The exact effect is not determinable
inasmuch as it is dependent on the actual future interest  payments and ultimate
repayment dates of the Purchase Money Notes. The Purchase Money Notes, after the
extended  maturity dates, call for the simple accrual of interest on the balance
of principal,  interest and Purchase Money Note extension fees payable as of the
date of maturity at one of the following two rates: (i) the lesser of 12% or the
legally  allowable  rate;  or (ii) the  lesser  of prime  plus 2% or the  lowest
legally  allowable  rate.  Unpaid  interest  of  approximately  $14,699,000  and
$22,909,000 as of September 25, 2002 and March 25, 2002, respectively,  has been
accrued and is included in due to selling partners in the  consolidated  balance
sheets.  In general,  the interest on and the principal of each  Purchase  Money
Note is also  payable  to the  extent of the  Partnership's  actual  receipt  of
proceeds of the sale or refinancing of the apartment complex.

The Partnership extended the original terms of the Purchase Money Notes (ranging
from August to December 1996) for up to three  additional years (four years with
respect to three  subsidiary  partnerships and seven years with respect to three
subsidiary  partnerships).  In connection with such extensions,  the Partnership
incurred extension fees of 1/2 % per annum of the outstanding  principal balance
of the Purchase  Money  Notes.  Of such fees  incurred,  $71,737 was accrued and
added to the  Purchase  Money  Notes  balance.  The  extension  fees  are  being
amortized  over  the term of the  extensions.  The  Purchase  Money  Notes  with
seven-year  extensions have all been sold.  Additionally,  an oral agreement was
reached in August 2001 to extend the maturity  dates of the  remaining  Purchase
Money Notes through November 2002. Further extensions, until such properties are
sold, are currently in the discussion stage. The Partnership is working with the
Local  General  and  Purchase  Money  Note  holders  to  refinance  or sell  the
properties.  No  assurance  can be  given  that  management's  efforts  will  be
successful.  Based on the historical operating results of the Local Partnerships
and the  current  economic  conditions,  including  changes  in tax laws,  it is
unlikely  that the  proceeds  from such  sales  will be  sufficient  to meet the
outstanding  balances of principal,  accrued  interest and extension  fees.  The
Purchase Money Notes are without personal  recourse to either the Partnership or
any of its  partners  and  the  selling  partner's  recourse,  in the  event  of
nonpayment,  would  be to  foreclose  on  the  Partnership's  interests  in  the
respective subsidiary partnerships.

                                       12
<PAGE>

                         CAMBRIDGE ADVANTAGED PROPERTIES
                      LIMITED PARTNERSHIP AND SUBSIDIARIES
                   Notes to Consolidated Financial Statements
                               September 25, 2002
                                   (Unaudited)


Distributions  aggregating  approximately $3,231,000 and $3,884,000 were made to
the  Partnership  for  the  six  months  ended  September  25,  2002  and  2001,
respectively, of which $2,317,000 and $3,355,000, respectively, were used to pay
principal and interest on the Purchase Money Notes.


                                       13
<PAGE>

                         CAMBRIDGE ADVANTAGED PROPERTIES
                      LIMITED PARTNERSHIP AND SUBSIDIARIES
                   Notes to Consolidated Financial Statements
                               September 25, 2002
                                   (Unaudited)


Note 3 - Related Party Transactions

The costs  incurred  to  related  parties  for the three  and six  months  ended
September 25, 2002 and 2001 were as follows:

<TABLE>
<CAPTION>


                             Three Months Ended              Six Months Ended
                                September 25,                  September 25,
                           -----------------------       -----------------------
                             2002           2001           2002           2001
                           -----------------------       -----------------------
<S>                        <C>            <C>            <C>            <C>
Partnership
  management fees
(a)                        $267,000       $271,000       $534,000       $542,000
Expense
  reimbursement (b)          19,104         49,650         47,725         84,142
Local administrative
   fee (c)                   10,000         14,000         20,000         28,000
                           --------       --------       --------       --------
Total general and
  administrative-
General Partners            296,104        334,650        601,725        654,142
                           --------       --------       --------       --------

Property
  management fees
  incurred to affiliates
  of the subsidiary
  partnerships' general
  partners                   57,910        140,543        128,740        305,288
                           --------       --------       --------       --------

Total general and
administrative-related
  parties                  $354,014       $475,193       $730,465       $959,430
                           ========       ========       ========       ========
</TABLE>

(a) After all other expenses of the Partnership are paid, an annual  partnership
management fee of up to .5% of invested  assets is payable to the  Partnership's
General Partners and affiliates. Partnership management fees owed to the General
Partners  amounting to approximately  $2,918,000 and $2,847,000 were accrued and
unpaid as of September  25, 2002 and March 25, 2002,  respectively.  Without the
General Partner's continued allowance of accrual without payment of certain fees
and expense  reimbursements,  the Partnership  will not be in a position to meet
its  obligations.  The General  Partners  have  continued  allowing  the accrual
without  payment of these  amounts but are under no obligation to continue to do
so.  Proceeds  received  from future  sales will be used to pay any  outstanding
amounts due to the General Partners.

                                       14
<PAGE>

                         CAMBRIDGE ADVANTAGED PROPERTIES
                      LIMITED PARTNERSHIP AND SUBSIDIARIES
                   Notes to Consolidated Financial Statements
                               September 25, 2002
                                   (Unaudited)


(b) The  Partnership  reimburses the General  Partners and their  affiliates for
actual Partnership operating expenses incurred by the General Partners and their
affiliates on the  Partnership's  behalf.  The amount of reimbursement  from the
Partnership is limited by the provisions of the partnership  agreement.  Another
affiliate of the General Partners performs asset monitoring for the Partnership.
These   services   include  site  visits  and   evaluations  of  the  subsidiary
partnerships' performance. Expense reimbursements and asset monitoring fees owed
to the General  Partners  amounting  to  approximately  $40,000 and $95,000 were
accrued and unpaid as of September 25, 2002 and March 25, 2002, respectively.

(c)  C/R  Special  Partnership,  the  special  limited  partner,  owning  a .01%
interest,  is entitled to receive a local administrative fee of up to $2,500 per
year from each subsidiary partnership.


Note 4 - Sale of Properties

General
-------

The Partnership is currently in the process of disposing of its investments.  It
is  anticipated  that this process will take a number of years.  As of September
25, 2002, the Partnership  has disposed of fifty-four of its sixty-one  original
investments. Five additional investments are listed for sale and the Partnership
anticipates  that  the two  remaining  investments  will be  listed  for sale by
December 31, 2002.  There can be no  assurance as to when the  Partnership  will
dispose of its last remaining investments or the amount of proceeds which may be
received.  However,  based on the  historical  operating  results  of the  Local
Partnerships and the current economic conditions  including changes in tax laws,
it is unlikely  that the proceeds  received by the  Partnership  from such sales
will be  sufficient to return their  original  investment.  Moreover,  the Local
General  Partners  and  holders  of the  Purchase  Money  Notes  generally  have
decision-making rights with respect to the sale of each property which therefore
makes it more cumbersome for the General Partners to sell each property.

                                       15
<PAGE>

                         CAMBRIDGE ADVANTAGED PROPERTIES
                      LIMITED PARTNERSHIP AND SUBSIDIARIES
                   Notes to Consolidated Financial Statements
                               September 25, 2002
                                   (Unaudited)


In order to facilitate an orderly  disposition of the Partnership's  assets, the
Partnership formed a new entity:  Cambridge  Advantaged  Liquidating L.L.C. (the
"Trust"),  a Delaware  limited  liability  company which is  wholly-owned by the
Partnership.

On July 21, 1999, the Partnership  contributed its limited partnership  interest
in Decatur Apartments,  Ltd., Florence  Apartments,  Ltd., Saraland  Apartments,
Ltd., Dickens Ferry Apartments,  Ltd., Boonie Doone Apartments, Ltd., University
Gardens Apartments,  Ltd., and Southside Village Apartments, Ltd., to the Trust.
In each case, the interests were contributed subject to each respective Purchase
Money Note. The contribution did not involve any consideration being paid to the
Partnership,  therefore,  there  should  not be any tax  effect  to the  limited
partners of the  Partnership.  As of September 25, 2002 all of these  properties
were sold except for Saraland Apartments, Ltd.

Information Regarding Dispositions.
-----------------------------------

On February 14, 2002,  the property and the related  assets and  liabilities  of
Nottingham Woods Apartments  ("Nottingham")  were sold to an unaffiliated  third
party  for  $1,900,000,  resulting  in a gain  of  approximately  $799,000.  The
Partnership used approximately $472,000 of the proceeds to settle the associated
Purchase Money Note and accrued interest thereon,  which had a total outstanding
balance of  approximately  $3,251,000,  resulting in forgiveness of indebtedness
income of approximately $2,779,000.

On February 15, 2002,  the property and the related  assets and  liabilities  of
Robindale East Apartments ("Robindale") were sold to an unaffiliated third party
for $10,000,  resulting in a loss of  approximately  $536,000.  No proceeds were
used to settle the related  Purchase  Money Note and accrued  interest  thereon,
which had a total outstanding balance of approximately $2,904,000,  resulting in
forgiveness of indebtedness income of such amount.

                                       16
<PAGE>

                         CAMBRIDGE ADVANTAGED PROPERTIES
                      LIMITED PARTNERSHIP AND SUBSIDIARIES
                   Notes to Consolidated Financial Statements
                               September 25, 2002
                                   (Unaudited)


On April 30,  2002,  the  property  and the related  assets and  liabilities  of
Shelton Beach Apartments  ("Northpointe  I") were sold to an unaffiliated  third
party  for  $2,333,333,  resulting  in a gain  of  approximately  $598,000.  The
Partnership used  approximately  $1,124,000 of proceeds to settle the associated
Purchase Money Note and accrued interest thereon,  which had a total outstanding
balance of  approximately  $3,239,000,  resulting in forgiveness of indebtedness
income of approximately $2,115,000.

On April 30,  2002,  the  property  and the related  assets and  liabilities  of
Northpointe II were sold to an unaffiliated third party for $1,666,667 resulting
in a gain of approximately $394,000. The Partnership used approximately $570,000
of the  proceeds  to settle  the  associated  Purchase  Money  Note and  accrued
interest  thereon,  which  had a  total  outstanding  balance  of  approximately
$2,119,000,  resulting in forgiveness of  indebtedness  income of  approximately
$1,549,000.

On May 9, 2002, the property and the related  assets and  liabilities of Huntley
#1  were  sold  to the  Local  General  Partner  for  approximately  $1,750,000,
resulting in a gain of approximately  $145,000.  No proceeds were used to settle
the Purchase Money Note and accrued interest  thereon,  resulting in forgiveness
of indebtedness income of approximately $2,645,000.

On May 9, 2002, the property and the related  assets and  liabilities of Huntley
#2  were  sold  to the  Local  General  Partner  for  approximately  $1,750,000,
resulting in a gain of approximately  $351,000.  No proceeds were used to settle
the Purchase Money Note and accrued interest  thereon,  resulting in forgiveness
of indebtedness income of approximately $1,725,000.

                                       17
<PAGE>

                         CAMBRIDGE ADVANTAGED PROPERTIES
                      LIMITED PARTNERSHIP AND SUBSIDIARIES
                   Notes to Consolidated Financial Statements
                               September 25, 2002
                                   (Unaudited)


On May 21, 2002,  Pinewood  Village  ("Conifer 317") entered into a purchase and
sale agreement with an  unaffiliated  third party purchaser for a purchase price
of  $2,000,000.  The closing is expected to occur in late 2002. No assurance can
be given that the closing will actually occur.

On May 30,  2002,  the  property  and the  related  assets  and  liabilities  of
Lexington Village  ("Lexington")  were sold to an affiliate of the Local General
Partner  for  approximately  $1,350,000,  resulting  in a gain of  approximately
$425,000. The Partnership used approximately $375,000 of the proceeds to pay off
the  Purchase  Money  Note  and  accrued  interest  thereon,  which  had a total
outstanding  balance of  approximately  $3,445,000,  resulting in forgiveness of
indebtedness income of approximately $3,070,000.

On July 31,  2002,  an  unaffiliated  third party agreed to purchase the limited
partnership  interests  in Cabarrus  Arms  Associates  ("Cabarrus  Arms") for an
agreed upon price of $25,000. Such purchase is expected to be finalized in early
2003. No assurance can be given that the closing will actually occur.

On July 31,  2002,  an  unaffiliated  third party agreed to purchase the limited
partnership  interests in Hathaway Court  Associates  ("Hathaway") for an agreed
upon price of $50,000.  Such purchase is expected to be finalized in early 2003.
No assurance can be given that the closing will actually occur.

On July 31,  2002,  an  unaffiliated  third party agreed to purchase the limited
partnership  interests of Summer Arms  Associates  ("Summer Arms") for an agreed
upon price of $25,000.  Such purchase is expected to be finalized in early 2003.
No assurance can be given that the closing will actually occur.


Note 5 - Commitments and Contingencies

The  following  disclosures  include  changes  and/or  additions to  disclosures
regarding the subsidiary  partnerships  which were included in the Partnership's
Annual Report on Form 10-K for the year ended March 25, 2002.

                                       18
<PAGE>

                         CAMBRIDGE ADVANTAGED PROPERTIES
                      LIMITED PARTNERSHIP AND SUBSIDIARIES
                   Notes to Consolidated Financial Statements
                               September 25, 2002
                                   (Unaudited)


Southwest Apartments Ltd. (the Gossers)
---------------------------------------
In or around  November 1999, the  Partnership  received  correspondence  from an
attorney representing Dr. and Mrs. Bob Gosser, (the "Gossers") who are allegedly
the  holders of  beneficial  interests  in Purchase  Money  Notes  issued by the
Partnership  in  connection  with  the  Partnership's   acquisition  of  limited
partnership  interests  in  Southwest  Apartments,  Ltd.  Local  partnership  in
December 1984.  Those Purchase  Money Notes issued by the  Partnership  have, on
their face, matured and have not been paid in full.

The Partnership  thereafter entered into a settlement agreement with the Gossers
which contemplated the sale of the real property owned by Southwest  Apartments,
Ltd. and an allocation  of the proceeds  from the sale between the Gossers,  the
Partnership  and others.  Subsequently,  the  Partnership  sold its  partnership
interest in Southwest  Apartments,  Ltd. to Marshall B. Coffman,  subject to the
agreement with the Gossers and pursuant to which Coffman agreed to indemnify the
Partnership  in the event of a suit brought by the  Gossers.  On April 29, 2002,
counsel for the Gossers  threatened  to bring suit against the  Partnership  and
Coffman unless Coffman complied with the obligations set forth in the agreement.
The  Partnership  promptly  placed  Coffman  on  notice  that in the  event  the
Partnership is sued by the Gossers,  the  Partnership  will seek to hold Coffman
liable pursuant to the indemnification given by him for all damages sustained by
the Partnership including but not limited to its attorneys' fees.

Saraland Apartments, Ltd.
-------------------------
Saraland  Apartments,  Ltd.  ("Saraland")  has been placed on the  Environmental
Protection  Agency's  (EPA)  "Superfund  Cleanup  List".  During  the year ended
December 31, 1996,  the tenants of Saraland  were moved to temporary  housing to
facilitate  cleanup of the site.  However,  as of February  1997, the EPA, along
with other agencies, concluded that the apartment residents should not return to
the  site,  and the  tenants  were  permanently  relocated.  The  EPA has  since
concluded that the apartments  will have to be demolished in order to accomplish
the  removal  of  contamination  that has been  found  to exist  underneath  the
buildings.

                                       19
<PAGE>

                         CAMBRIDGE ADVANTAGED PROPERTIES
                      LIMITED PARTNERSHIP AND SUBSIDIARIES
                   Notes to Consolidated Financial Statements
                               September 25, 2002
                                   (Unaudited)


On March 21, 2001,  Saraland filed a petition for relief under Chapter 11 of the
Bankruptcy Code in the United States  Bankruptcy Court for the Northern District
of Texas,  Dallas  Division.  The schedules list total assets valued at $924 and
liabilities of $12,962,501.  The value of the land is listed as undetermined and
the  Department  of Housing and Urban  Development  ("HUD")  possesses a secured
claim  related to mortgages it holds in the  estimated  amount of $681,527.  The
filing was commenced in response to a nonjudicial foreclosure brought by HUD.

The remaining  liabilities consist of unsecured  nonpriority claims, the bulk of
which  relate  to a  claim  held by the  U.S.  Environmental  Protection  Agency
("USEPA") and Rentokil Initial  Environmental  Services,  Inc., in the amount of
$12,000,000.  This  claim  relates  to  a  lawsuit  under  Section  107  of  the
Comprehensive  Environmental Response,  Compensation and Liability Act, which is
currently  pending in the District  Court for the  Southern  District of Alabama
(the "District Court") against Saraland and others who it claims are potentially
responsible parties. Redwing Carriers, Inc., a codefendant in the USEPA lawsuit,
has  commenced an action,  also in the District  Court,  to recover all or a pro
rata share of its environmental response costs from Saraland and others.

Another lawsuit,  pending in Circuit Court, Mobile County, Alabama, was filed by
the former tenants of Saraland  against Saraland and Redwing and is also related
to the environmental issues.

The Debtor has filed an Amended Plan of Reorganization  which will be considered
by the Bankruptcy  Court this fall. The plan provides for resolution of HUD, EPA
and general unsecured claims.  The plan also requires the holders of partnership
interests,  including  the  Partnership,  to make new capital  contributions  to
preserve their interests in the reorganized company.

Due to the uncertainty of the outcome of these lawsuits, no loss contingency has
been accrued in the accompanying financial statements. The Local Partnership has
virtually  abandoned  the property,  and is not making  payments on its mortgage
loan.

                                       20
<PAGE>




Item 2. Management's  Discussion and Analysis of Financial Condition and Results
of Operations

Liquidity and Capital Resources
-------------------------------

The  Partnership's  primary  sources  of funds are the cash  distributions  from
operations of the Local  Partnerships  in which the Partnership has invested and
net proceeds from sales.  These sources are available to meet obligations of the
Partnership.   However,   the  cash   distributions   received  from  the  Local
Partnerships  to date have not been  sufficient to meet all such  obligations of
the Partnership.  Accordingly,  certain fees and expense  reimbursements owed to
the General Partners amounting to approximately $3,233,000 and $2,662,000,  were
accrued and unpaid as of September  25, 2002 and March 25,  2002,  respectively.
Without the General Partners'  continued allowance of accrual without payment of
certain  fees  and  expense  reimbursements,  the  Partnership  will not be in a
position to meet its obligations.  The General Partners have continued  allowing
the accrual  without  payment of these amounts but are under no obligation to do
so.  Net  proceeds  and   distributions   received  from  future  sales  of  the
Partnership's investments will be used to pay any outstanding amounts due to the
General Partners.

Distributions  aggregating  approximately $3,231,000 and $3,884,000 were made to
the  Partnership  for  the  six  months  ended  September  25,  2002  and  2001,
respectively, of which $2,317,000 and $3,355,000, respectively, were used to pay
principal and interest on the Purchase Money Notes.

During the six months ended September 25, 2002, cash and cash equivalents of the
Partnership and its  consolidated  Local  Partnerships  increased  approximately
$2,674,000.  This  increase  was due to  proceeds  from the  sale of  properties
($10,760,000)  which  exceeded  principal  payment  of  mortgage  notes  payable
($5,544,000),  principal payments of Purchase Money Notes payable  ($2,068,000),
acquisitions  of  property  and  equipment  ($105,000),  an increase in mortgage
escrow  deposits  ($195,000)  decrease in  capitalization  of minority  interest
($172,000)  and cash used in  operating  activities  ($2,000).  Included  in the
adjustments to reconcile the net income to cash used in operating activities are
gain on sale of properties  ($2,222,000),  forgiveness  of  indebtedness  income
($16,789,000) and depreciation ($250,000).

For a discussion of Purchase  Money Notes  Payable,  see Note 2 to the financial
statements.

                                       21
<PAGE>


For a discussion of the sale of properties in which the Partnership  owns direct
and indirect interests, see Note 4 to the financial statements.

Even though  sales have  resulted in net gains for tax  purposes,  the net sales
proceeds have not been  sufficient to permit any  significant  distributions  to
investors  after  payment  of all or a  portion  of the  Purchase  Money  Notes.
Therefore,  investors  should not expect  that they will  receive  distributions
sufficient to pay taxes incurred as a result of such sales.

For a discussion of contingencies affecting certain Local Partnerships, see Note
5 to the financial statements.  Since the maximum loss for which the Partnership
would be liable is its net investment in the respective Local Partnerships,  the
resolution of the existing  contingencies  is not  anticipated  to impact future
results of operations, liquidity or financial condition in a material way except
that  the  Partnership  would  lose its  investment  in the  properties  and any
potential proceeds from the sale or refinancing of the properties.

Management is not aware of any trends or events,  commitments  or  uncertainties
which  have not been  otherwise  disclosed,  that  will or are  likely to impact
liquidity in a material way.  Management  believes the only impact would be from
laws  that  have not yet been  adopted.  The  portfolio  is  diversified  by the
location of the  properties  around the United States so that if one area of the
United States is experiencing downturns in the economy, the remaining properties
in  the  portfolio  may  be  experiencing  upswings.   However,  the  geographic
diversification  of the portfolio may not protect against a general  downturn in
the national economy.

Results of Operations
---------------------

During the  periods  ended  September  25,  2002 and 2001,  Bellfort,  Fircrest,
Cloisters  (Sundown),  Conifer 208,  West  Scenic,  Tall Pines,  Northwoods  III
(Windgate),  Oakwood Manor, Ware Manor,  Washington  Highland,  Seymour O'Brien,
Autumn Ridge,  Nottingham Woods,  Robindale East, Northpointe I, Northpointe II,
Huntley  #1,  Huntley #2 and  Lexington  sold their  properties  and the related
assets and liabilities and the Partnership sold its Local  Partnership  Interest
in Greenwood Manor, Henslee Heights,  Hereford Manor, Malvern Manor,  Southwest,
Southside,  University and Hackley (collectively the "Sold Assets"). The results
of operations of the Partnership,  as well as the Local  Partnerships,  remained
fairly  consistent  during the three and six months ended September 25, 2002 and
2001,  excluding the Sold Assets,  gain on sale of  properties,  forgiveness  of
indebtedness   income,   administrative   and  management,   administrative  and
management-related  parties, repairs and maintenance,  and interest expense. The
majority  of Local  Partnership  income  continues  to be in the form of  rental
income  with  the   corresponding   expenses  being  divided  among  operations,
depreciation  and mortgage  interest.  In  addition,  the  Partnership  incurred
interest expense relating to the Purchase Money Notes which were issued when the
Local Partnerships Interests were acquired.

                                       22
<PAGE>

Rental income decreased  approximately  60% and 57% for the three and six months
ended September 25, 2002 as compared to 2001. Excluding the Sold Assets,  rental
income  increased  approximately  5% and 3% for the three and six  months  ended
September 25, 2002 as compared to 2001, primarily due to rental rate increases.

Other income decreased approximately $151,000 and $174,000 for the three and six
months ended September 25, 2002, as compared to 2001. Excluding the Sold Assets,
other income  decreased  approximately  $25,000 and $37,000  primarily  due to a
decrease in interest  income in 2002 at the Local  Partnerships  and Partnership
level as a result of lower interest rates.

Administrative and management decreased  approximately $378,000 and $719,000 for
the three and six months ended September 25, 2002 as compared to 2001. Excluding
the Sold  Assets,  such  expense  decreased  approximately  $4,000 and  $64,000,
primarily due to a decrease in legal expense at the Partnership level.

Administrative and management-related  parties decreased  approximately $121,000
and $229,000 for the three and six months ended  September  25, 2002 as compared
to 2001. Excluding the Sold Assets, such expense decreased approximately $39,000
and  $52,000  primarily  due  to  a  decrease  in  expense  allocations  at  the
Partnership level.

Repairs and maintenance  decreased  approximately  $534,000 and $991,000 for the
three and six months ended September 25, 2002 as compared to 2001. Excluding the
Sold Assets, such expense decreased  approximately $63,000 and $39,000 primarily
due to an insurance  refund received for prior repairs at one Local  Partnership
in 2002.

                                       23
<PAGE>


Interest expense decreased  approximately  $894,000 and $2,020,000 for the three
and six months ended September 25, 2002 as compared to 2001.  Excluding the Sold
Assets, such expense decreased approximately $56,000 and $164,000, primarily due
to a decrease in the prime interest rate in 2002.

Operating,   taxes  and  insurance,  and  depreciation  decreased  approximately
$365,000  and  $814,000,  $56,000  and  $226,000,  and  $199,000  and  $515,000,
respectively,  for the three and six months ended September 25, 2002 as compared
to 2001,  primarily due to decreases  relating to the Sold Assets.  Summer Arms,
Cabarrus,  Nu-Elm,  Hathaway and Pinewood are not being  depreciated  during the
period ended  September 25, 2002 because they are  classified as assets held for
sale.

Gain on sale of properties and forgiveness of indebtedness  income will continue
to fluctuate as a result of the  disposition  of  properties  (see Note 4 of the
financial statements).

Item 3. Quantitative and Qualitative Disclosures about Market Risk

None

Item 4. Controls and Procedures

The Chief  Executive  Officer  and  Chief  Financial  Officer  of  Related  Beta
Corporation  and Assisted  Housing,  Inc., each of which is a general partner of
Cambridge Advantaged  Properties Limited Partnership (the  "Partnership"),  have
evaluated the Partnership's  disclosure  controls and procedures relating to the
Partnership's  quarterly report on Form 10-Q for the period ending September 25,
2002 as filed with  Securities  and  Exchange  Commission  and have  judged such
controls  and  procedures  to  be  effective  as  of  September  25,  2002  (the
"Evaluation Date").

There have been no  significant  changes in the  internal  controls  or in other
factors  that could  significantly  affect  internal  controls  relating  to the
Partnership since the Evaluation Date.

                                       24
<PAGE>



                           PART II - OTHER INFORMATION

Item 1. Legal Proceedings

        This information is incorporated by reference in Note 5 to the financial
statements.

Item 2. Changes in Securities and Use of Proceeds - None

Item 3. Defaults Upon Senior Securities - None

Item 4. Submission of Matters to a Vote of Security Holders - None

Item 5. Other information - None

Item 6. Exhibits and Reports on Form 8-K

        (a)  Exhibits

        99.1 Certification  Pursuant  to  18  U.S.C.  Section  1350,  as adopted
pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

        (b)  Reports on  Form 8-K - No reports on Form 8-K were filed during the
quarter.


                                       25
<PAGE>


                                   SIGNATURES

Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned thereunto duly authorized.


                              CAMBRIDGE ADVANTAGED
                         PROPERTIES LIMITED PARTNERSHIP
                                  (Registrant)


                           By: Related Beta Corporation,
                               a General Partner

Date:  October 28, 2002

                               By: /s/ Alan P. Hirmes
                                   ------------------
                                   Alan P. Hirmes,
                                   President
                                   (principal executive and financial officer)

Date:  October 28, 2002

                               By: /s/ Glenn F. Hopps
                                   ------------------
                                   Glenn F. Hopps,
                                   Treasurer
                                   (principal accounting officer)


                           By: ASSISTED HOUSING ASSOCIATES,
                               INC., a General Partner

Date:  October 28, 2002

                               By: /s/ Alan P. Hirmes
                                   ------------------
                                   Alan P. Hirmes,
                                   President
                                   (principal executive and financial officer)

Date:  October 28, 2002

                               By: /s/ Glenn F. Hopps
                                   ------------------
                                   Glenn F. Hopps,
                                   Treasurer
                                   (principal accounting officer)


<PAGE>

                           By: CAMBRIDGE AND RELATED ASSOCIATES
                               LIMITED PARTNERSHIP

                               By: Related Beta Corporation,

Date:  October 28, 2002

                               By: /s/ Alan P. Hirmes
                                   -------------------
                                   Alan P. Hirmes,
                                   President
                                   (principal executive and financial
                                   officer)

Date:  October 28, 2002

                               By: /s/ Glenn F. Hopps
                                   ------------------
                                   Glenn F. Hopps,
                                   Treasurer
                                   (principal accounting officer)


<PAGE>


                                  CERTIFICATION


I, Alan P.  Hirmes,  Chief  Executive  Officer  and Chief  Financial  Officer of
Related  Beta  Corporation  (general  partner  of  each of the  Partnership  and
Cambridge  and Related  Associates,  General  Partners of the  Partnership)  and
Assisted Housing Associates,  Inc. (general partner of the Partnership),  hereby
certify that:

1.   I have  reviewed this  quarterly  report on Form 10-Q for the period ending
     September 25, 2002 of the Partnership;

2.   Based on my knowledge,  this  quarterly  report does not contain any untrue
     statement of a material fact or omit to state a material fact  necessary in
     order to make the  statements  made,  in light of the  circumstances  under
     which such  statements were made, not misleading with respect to the period
     covered by this quarterly report;

3.   Based on my  knowledge,  the  financial  statements,  and  other  financial
     information  included  in this  quarterly  report,  fairly  present  in all
     material respects the financial  condition,  results of operations and cash
     flows of the  Partnership  as of, and for,  the periods  presented  in this
     quarterly report;

4.   I am responsible for establishing and maintaining  disclosure  controls and
     procedures  (as defined in Exchange  Act Rules  13a-14 and 15-d-14) for the
     Partnership and we have:

     a)   designed  such  disclosure  controls  and  procedures  to  ensure  the
          material  information relating to the Partnership is made known to us,
          particularly  during  the period in which  this  quarterly  report was
          being prepared;

     b)   evaluated the effectiveness of the Partnership's  disclosure  controls
          and procedures as of September 25, 2002 (the "Evaluation Date"); and


<PAGE>


     c)   presented  in  this  quarterly   report  our  conclusions   about  the
          effectiveness  of the disclosure  controls and procedures based on our
          evaluation as of the Evaluation Date;

5.   I have disclosed, based on our most recent evaluation, to the Partnership's
     auditors and to the board of directors of the General Partners:

     a)   all  significant  deficiencies  in the design or operation of internal
          controls which could  adversely  affect the  Partnership's  ability to
          record,  process,   summarize  and  report  financial  data  and  have
          identified for the Partnership's  auditors any material  weaknesses in
          internal controls; and

     b)   any fraud, whether or not material,  that involves management or other
          employees who have a significant  role in the  Partnership's  internal
          controls; and

6.   I have  indicated  in this  quarterly  report  whether  or not  there  were
     significant  changes in internal  controls or in other  factors  that could
     significantly  affect internal controls  subsequent to the date of our most
     recent  evaluation,   including  any  corrective  actions  with  regard  to
     significant deficiencies and material weaknesses.

Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
Partnership  has duly  caused  this  report to be  signed  on its  behalf by the
undersigned, thereunto duly authorized.



                           By: /s/ Alan P. Hirmes
                               ------------------
                               Alan P. Hirmes
                               Chief Executive Officer and
                               Chief Financial Officer
                               October 28, 2002


<PAGE>

                            CERTIFICATION PURSUANT TO
                             18.U.S.C. SECTION 1350,
                             AS ADOPTED PURSUANT TO
                  SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002


In  connection  with the  Quarterly  Report of Cambridge  Advantaged  Properties
Limited  Partnership  (the  "Partnership")  on Form 10-Q for the  period  ending
September 25, 2002 as filed with the Securities  and Exchange  Commission on the
date hereof (the "Report"), I, Alan P. Hirmes, Chief Executive Officer and Chief
Financial  Officer of Related Beta  Corporation  (general partner of each of the
Partnership  and  Cambridge  and  Related  Associates,  general  partner  of the
Partnership)  and Assisted  Housing  Associates,  Inc.  (general  partner of the
Partnership),  certify,  pursuant to 18 U.S.C. Section 1350, as adopted pursuant
to Section 906 of the Sarbanes-Oxley Act of 2002, that:


     (1) The Report fully  complies  with the  requirements  of section 13(a) or
15(d) of the Securities Exchange Act of 1934; and


     (2)  The  information  contained  in the  Report  fairly  presents,  in all
material  respects,  the  financial  condition  and result of  operations of the
Partnership.



By:  /s/ Alan P. Hirmes
     ------------------
     Alan P. Hirmes
     Chief Executive Officer and Chief Financial Officer
     October 28, 2002