<PAGE>


                                  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 December 25, 2000

                                       OR

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


                         Commission File Number 0-14941


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


        Delaware                            13-3330195
---------------------------              -----------------
(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 II LIMITED PARTNERSHIP
                                AND SUBSIDIARIES
                           Consolidated Balance Sheets
                                   (continued)
                                   (Unaudited)

                                 December 25,    March 25,
                                    2000          2000
                                ------------   ------------

ASSETS
Property and equipment - net of
  accumulated depreciation of
  $15,492,898 and $29,375,696,
  respectively                   $16,834,443   $34,237,818
Property and equipment held
  for sale - net of accumulated
  depreciation of $20,169,302 and
  $12,824,528, respectively       26,852,566    18,695,807
Cash and cash equivalents          1,577,489     1,504,490
Cash - restricted for tenants'
  security deposits                  386,940       435,137
Mortgage escrow deposits           2,311,087     1,961,983
Deferred costs, net of accumulated
  amortization of  $436,374 and
  $453,237, respectively           1,294,575     1,441,913
Prepaid expenses and other assets    867,678       173,093
                                  ----------    ----------
Total assets                     $50,124,778   $58,450,241
                                  ==========    ==========

<PAGE>

LIABILITIES AND PARTNERS' DEFICIT
Liabilities
Mortgage notes payable           $58,490,513   $71,887,945
Accounts payable, accrued
  expenses and other liabilities   4,218,405     4,100,178
Tenants' security deposits payable   386,940       435,137
Due to general partners of
  subsidiaries and their affiliates  527,589       562,541
Due to general partners and
  affiliates                       5,254,047     6,726,899
                                  ----------    ----------
Total liabilities                 68,877,494    83,712,700
                                  ----------    ----------

Minority interest                  3,838,534     4,237,149
                                  ----------    ----------
Commitments and contingencies
  (Note 6)
Partners' deficit:
  Limited partners               (22,047,791)  (28,887,065)
  General partners                  (543,459)     (612,543)
                                 -----------   -----------
Total partners' deficit          (22,591,250)  (29,499,608)
                                 -----------   -----------
Total liabilities and partners'
  deficit                        $50,124,778   $58,450,241
                                  ==========    ==========

See Accompanying Notes to Consolidated Financial
Statements.





<PAGE>




             CAMBRIDGE ADVANTAGED PROPERTIES II LIMITED PARTNERSHIP
                                AND SUBSIDIARIES
                      Consolidated Statements of Operations
                                   (Unaudited)


                                 Three Months Ended       Nine Months Ended
                                    December 25,            December 25,
                                  2000      1999*         2000        1999*
                                ------------------       ---------------------
Revenues

Rentals, net                   $3,159,362   $4,279,592  $10,092,601  $12,749,363
Other                             241,963      212,740      581,036      626,877
Gain on sale of
  property (Note 3)             4,477,627            0    7,428,733            0
                                ---------   ----------  -----------   ----------
Total revenues                  7,878,952    4,492,332   18,102,370   13,376,240
                                ---------   ----------  ----------    ----------

Expenses
Administrative and
  management                      841,312      858,005    2,316,420    2,532,254
Administrative and
  management-
  related parties
  (Note 2)                        246,849      334,736      736,215      977,697
Operating                         202,072      320,739      609,533      923,697
Repairs and
  maintenance                     721,611      838,106    1,815,740    2,225,562
Taxes and insurance               292,043      471,728      970,170    1,375,666
Interest                        1,281,956    1,852,019    4,052,235    5,573,317
Depreciation and
  amortization                    222,191      818,800    1,251,601    2,473,837
                                 ---------   ----------  ----------   ----------
Total expenses                  3,808,034    5,494,133   11,751,914   16,082,030
                                 ---------   ----------  ----------   ----------

Income (loss) before
  minority interest
  and extraordinary
  item                          4,070,918   (1,001,801)   6,350,456  (2,705,790)
Minority interest
  in loss of
  subsidiaries                    125,576        8,900      117,095      22,485
                                 ---------   ----------  ----------   ----------

Income (loss) before
  extraordinary item            4,196,494     (992,901)   6,467,551  (2,683,305)

Extraordinary item-
  forgiveness of
  indebtedness
  income                          440,807            0      440,807           0
                                ---------   ----------  ----------   ----------

Net income (loss)              $4,637,301    $(992,901)  $6,908,358 $(2,683,305)
                                =========    ==========  =========== ==========

*Reclassified for comparative purposes.
See Accompanying Notes to Consolidated Financial
Statements.





<PAGE>





             CAMBRIDGE ADVANTAGED PROPERTIES II LIMITED PARTNERSHIP
                                AND SUBSIDIARIES
             Consolidated Statement of Changes in Partners' Deficit
                                   (Unaudited)


                                       Limited      General
                             Total     Partners     Partners
                        ---------------------------------------


Balance-
  March 26, 2000       $(29,499,608) $(28,887,065)   $(612,543)

Net income-nine
  months ended
  December 25, 2000        6,908,358    6,839,274       69,084
                        ------------ ------------    ---------

Balance-
  December 25,
  2000                 $(22,591,250) $(22,047,791)   $(543,459)
                        ===========   ===========     ========

See Accompanying Notes to Consolidated Financial
Statements.





<PAGE>





             CAMBRIDGE ADVANTAGED PROPERTIES II LIMITED PARTNERSHIP
                                AND SUBSIDIARIES
                      Consolidated Statements of Cash Flows
                (Decrease) Increase in Cash and Cash Equivalents
                                   (Unaudited)


                                                  Nine Months Ended
                                                     December 25,
                                                2000            1999
                                             ---------------------------


Cash flows from operating activities:

Net income (loss)                          $ 6,908,358   $(2,683,305)
                                             ----------    ----------
Adjustments  to  reconcile
  net income  (loss) to net cash
  (used in) provided by
  operating activities:
Gain on sale of property                    (7,428,733)            0
Extraordinary item - forgiveness
  of indebtedness income                      (440,807)            0
Depreciation and amortization                1,251,601     2,473,837
Minority interest in loss
  of subsidiaries                             (117,095)      (22,485)
Decrease in cash-restricted
  for tenants' security deposits                48,197         4,537
Increase in mortgage
  escrow deposits                             (424,610)     (112,792)
Increase in prepaid
  expenses and other assets                   (710,856)     (439,296)
Increase in accounts payable,
   accrued expenses and
  other liabilities                            196,275       128,375
Decrease in tenants'
  security deposits payable                    (26,752)       (4,537)
Decrease in due to general partners
  of subsidiaries and their affiliates         (34,952)     (197,111)
(Decrease) increase in due to
  general partners and affiliates           (1,472,852)    1,837,154
                                            ----------     ---------

Total adjustments                           (9,160,584)    3,667,682
                                            ----------     ---------



Net cash (used in) provided by
  operating activities                      (2,252,226)      984,377
                                            ----------    ----------

<PAGE>

Cash flows from investing activities:

Net proceeds from the sale of
  properties                               10,341,532             0
Increase in mortgage reserve deposits         (22,739)      (57,350)
Acquisition of property and
  equipment                                  (134,102)     (203,872)
                                           -----------    ----------

Net cash provided by (used in)
  investing activities                     10,184,691      (261,222)
                                           ----------     ----------

Cash flows from financing activities:

Proceeds from mortgage notes
  payable                                     7,250,000             0
Principal payments of mortgage
  notes payable                             (14,827,946)     (385,374)
Decrease in capitalization
  of consolidated subsidiaries
  attributable to minority interest            (281,520)     (150,344)
Increase in deferred costs                            0       (24,661)
                                              ----------     ---------

Net cash used in financing
  activities                                 (7,859,466)     (560,379)
                                              ----------     ---------

Net increase in cash and
  cash equivalents                               72,999       162,776
Cash and cash equivalents-
  beginning of period                         1,504,490     1,449,846
                                              ----------     ---------
Cash and cash equivalents-
  end of period                             $ 1,577,489    $1,612,622
                                             ==========     =========

<PAGE>

Supplemental disclosure of noncash activities:
Forgiveness of indebtedness:
Decrease in mortgage notes payable$             (440,807)  $        0

Summarized below are the components of the gain on sale of property:

Decrease in property and equipment,
  net of accumulated depreciation             8,202,522             0
Decrease in mortgage escrow deposits             98,245             0
Decrease in deferred costs                       73,933             0
Decrease in accounts payable,
  accrued expenses and other liabilities        (78,048)            0
Decrease in prepaid expenses and
  other assets                                   16,271             0
Decrease in tenants' security deposits
  payable                                       (21,445)            0
Decrease in mortgage notes payable           (5,378,679)            0

See Accompanying Notes to Consolidated Financial
Statements.



<PAGE>




             CAMBRIDGE ADVANTAGED PROPERTIES II LIMITED PARTNERSHIP
                                AND SUBSIDIARIES
                   Notes to Consolidated Financial Statements
                                December 25, 2000
                                   (Unaudited)

Note 1 - General



The  consolidated  financial  statements  for the nine months ended December 25,
2000  include  the  accounts  of  Cambridge  Advantaged  Properties  II  Limited
Partnership   (the    "Partnership")    and   eight   subsidiary    partnerships
("subsidiaries", "subsidiary partnerships" or "Local Partnerships") two of which
only have activity  through the date of sale of their properties and the related
assets and  liabilities.  The  consolidated  financial  statements  for the nine
months ended December 25, 1999 include the accounts of the  Partnership  and ten
subsidiary partnerships. The Partnership is a limited partner, with an ownership
interest of 98% in each of the  subsidiary  partnerships.  Through the rights of
the Partnership and/or one of its general partners (a "General Partner"),  which
General  Partner  has  a  contractual   obligation  to  act  on  behalf  of  the
Partnership,  to remove the general partner of the subsidiary  partnerships (the
"Local General  Partners") 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 December
25. All  subsidiaries  have fiscal quarters ending September 30. Accounts of the
subsidiary  partnerships  have been adjusted for intercompany  transactions from
October 1 through December 25. The Partnership's fiscal quarter ends on December
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.

The  Partnership's  investment  in each  subsidiary  is equal to the  respective
subsidiary's  partners' equity less minority  interest  capital,  if any. Losses
attributable  to  minority  interests  which  exceed  the  minority   interests'
investment  in a subsidiary  have been charged to the  Partnership.  Such losses
aggregated  approximately $2,000 and $7,000 and $3,000 and $20,000 for the three
and  nine  months   ended   December  25,  2000  and  1999,   respectively.   In
consolidation,   all   subsidiary   partnership   losses  are  included  in  the
Partnership's  capital account except for losses allocated to minority  interest
capital.

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,  2000.  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 December 25, 2000, the results of operations
for the three and nine months  ended  December  25, 2000 and 1999 and cash flows
for the nine months ended December 25, 2000 and 1999, respectively. However, the
operating  results  for the  nine  months  ended  December  25,  2000 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, 2000 Annual Report on Form 10-K.

Note 2 - Related Party Transactions

One of the General Partners of the Partnership, Related and Cambridge Associates
Limited Partnership ("Related and Cambridge Associates"), has a 1% interest as a
special limited partner in each of the subsidiary partnerships.



Fees  incurred to related  parties for the three and nine months ended  December
25, 2000 and 1999 were as follows:

                    Three Months Ended      Nine Months Ended
                       December 25,          December 25,
                      2000      1999       2000          1999*
                  ---------------------   ---------------------

Partnership manage-
  ment fees (a)     $107,750   $161,000   $323,250   $483,000
Expense reimburse-
  ment (b)            28,729     40,915     86,144     78,840
Property manage-
  ment fees incurred
  to affiliates of
  the General
  Partners (c)        43,129     67,708    127,673    225,382
Local administra-
  tive fee (d)         2,000      2,000      6,000      6,000
                     --------  ---------   --------   --------
Total general and
  administrative-
  General Partners   181,608    271,623    543,067    793,222
                     -------    -------    -------    -------
Property manage-
  ment fees
  incurred
  to affiliates of the
  subsidiary
  partnerships'
  general
  partners (c)        65,241     63,113    193,148    184,475
                    --------   --------    -------    -------
Total general and
  administrative-
  related parties   $246,849   $334,736   $736,215   $977,697
                     =======    =======    =======    =======

*Reclassified for comparative purposes.

(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 have been charged
to operations and are included in administrative and management-related  parties
expenses.  Partnership management fees owed to the General Partners amounting to
approximately  $3,325,000 and $3,002,000  were accrued and unpaid as of December
25,  2000 and  March 25,  2000,  respectively.  Without  the  General  Partners'
continued  accrual without  payment of certain fees and expense  reimbursements,
the Partnership will not be in the 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.

(b) An  affiliate  of  Related  Advantaged  Residential  Associates,  Inc.  (the
"Related General Partner")  performs services for the Partnership which include,
but are not limited to: accounting and financing management, registrar, transfer
and assignment functions,  asset management,  investor communications,  printing
and  other  administrative  services.  The  amount  of  reimbursement  from  the
Partnership is limited by the provisions of the Partnership  Agreement.  Another
affiliate of the Related  General  Partner  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 Related General Partner  amounting to  approximately
$97,000 and  $743,000  were accrued and unpaid as of December 25, 2000 and March
25, 2000, respectively.

(c)  Property  management  fees  paid by  subsidiary  partnerships  amounted  to
$153,325  and  $200,361  and $497,835 and $617,865 for the three and nine months
ended  December  25, 2000 and 1999,  respectively.  Of these fees  $108,370  and
$130,821  and $320,821 and $409,857  were  incurred to  affiliates  of the Local
General  Partners.  Of such amounts  incurred to affiliates of the Local General
Partners,  $43,129 and $67,708 and $127,673 and $225,382  were also  incurred to
affiliates of the General Partners.

(d)  Related  and  Cambridge  Associates,  a limited  partner of the  subsidiary
partnerships,  is entitled to receive a local administrative fee of up to $2,500
per year from each subsidiary partnership.



Note 3 - Sale of Properties

General
-------

The  Partnership  is currently in the process of winding up its  operations  and
disposing  of its  investments.  As of December 25, 2000,  the  Partnership  has
disposed of six of its twelve original investments. Subsequently on December 29,
2000, the Partnership sold an additional  property.  The five other  investments
are listed for sale and the General Partner  anticipates  that these assets will
be disposed of 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 Partnership and the current economic  conditions  including
changes in tax laws,  it is unlikely  that the proceeds  from such sales will be
sufficient to return the limited partners original investment.

Information Regarding Disposition
---------------------------------

Brookwood  Apartments,  L.P.  ("Brookwood")
-------------------------------------------
On March 24, 2000, the property and related assets and  liabilities of Brookwood
were sold to an unaffiliated third party for a price of $7,300,000  inclusive of
the mortgage assumption,  resulting in a gain of approximately  $2,951,000.  For
tax purposes,  the entire gain to be realized by the  Partnership is anticipated
to be approximately $6,118,000.

Apple Creek  Associates of Denton,  Ltd.  ("Apple Creek")
---------------------------------------------------------
On July 7, 2000,  Apple Creek's  mortgage  loan was  refinanced in the principal
amount of  $7,250,000,  at an interest rate of 8.15% and a maturity date of July
2010.  In  addition,  on July 28,  2000,  the  property  and related  assets and
liabilities of Apple Creek were sold to an  unaffiliated  third party  purchaser
for a price of $9,100,000  inclusive of a note payable to the Partnership in the
amount  of  $700,000,  resulting  in a  gain  of  approximately  $4,478,000  and
forgiveness of indebtedness income of approximately  $441,000. For tax purposes,
the  entire  gain  to be  realized  by  the  Partnership  is  anticipated  to be
approximately $9,225,000.

Triangle/Oaks   Limited   Partnership   ("Triangle/Oaks")
---------------------------------------------------------
On July 11,  2000,  Triangle/Oaks  entered  into a letter  of intent to sell the
property  and related  assets and  liabilities  to an  unaffiliated  third party
purchaser for a price of approximately  $22,400,000.  This offer to purchase was
subsequently  terminated.  On October 20,  2000,  Triangle/Oaks  entered  into a
contract  with another  unaffiliated  third party  purchaser for a reduced sales
price of  $20,550,000.  The price  reduction  was due to  termite  damage to the
property.  The closing is expected to occur in February  2001. No assurances can
be given that the sale will actually occur.

Suncreek - 268 Ltd. (Suncreek")
-------------------------------
On October 19, 2000, Suncreek entered into a purchase and sale agreement to sell
the property and the related assets and liabilities  with an unaffiliated  third
party purchase for a purchase price of  $13,668,000.  The closing is expected to
occur in March 2001. No assurances can be given that the closing will occur.



Note 4 - Commitments and Contingencies

There were no material  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 period ended March 25, 2000.



Note 5 - Subsequent Event

Woodridge, Ltd. ("Woodridge")
-----------------------------

On December 29, 2000,  the property and the related  assets and  liabilities  of
Woodridge  were sold to an  unaffiliated  third  party  purchase  for a price of
$11,420,000,  resulting in a gain of approximately $2,500,000. For tax purposes,
the  entire  gain  to be  realized  by  the  Partnership  is  anticipated  to be
approximately $5,200,000.



<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 and cash  distributions from sales of the Local Partnerships in which
the  Partnership  has  invested.   These  sources  are  available  to  meet  the
obligations of the Partnership.  The cash distributions  received from the Local
Partnerships  to date  have  been  sufficient  to  meet  all  current  operating
expenses.  During  the nine  months  ended  December  25,  2000 and  1999,  such
distributions amounted to approximately  $2,060,000 and $143,000,  respectively.
However,  the Related  General Partner had advanced funds in prior years to meet
the Partnership's  third party obligations with remaining unpaid balances due to
the Related General Partner totaling approximately  $1,956,000 and $2,950,000 at
December 25, 2000 and March 25, 2000,  respectively.  In addition,  certain fees
and  expense   reimbursements   owed  to  the  General  Partners   amounting  to
approximately  $3,422,000 and $3,745,000  were accrued and unpaid as of December
25,  2000 and  March 25,  2000,  respectively.  Without  the  General  Partners'
continued  accrual without  payment of certain fees and expense  reimbursements,
the Partnership will not be in the position to meet its obligations. The General
Partners have continued  allowing the accrual  without  payment of these amounts
but they are under no obligation to do so. Proceeds  received by the Partnership
from future  sales will be used to pay current  operating  expenses and then any
outstanding amounts due to the General Partners.

During the nine months ended December 25, 2000, cash and cash equivalents of the
Partnership   and  its   eight   consolidated   Local   Partnerships   increased
approximately  $73,000.  This  increase  was  attributable  primarily to the net
proceeds from the sale of property  ($10,342,000)  which exceeded cash flow used
in  operating   activities   ($2,252,000),   a  decrease  in  capitalization  of
consolidated  subsidiaries  attributable to minority  interest  ($282,000),  net
principal  payments of mortgage notes payable  ($7,578,000)  and  acquisition of
property and equipment ($134,000).  Included in the adjustments to reconcile the
net income to cash flow used in operating activities is gain on sale of property
($7,429,000), forgiveness of indebtedness income ($441,000) and depreciation and
amortization ($1,252,000).

For a discussion of sale of properties, see Note 3 to the financial statements.

Management is not aware of any trends or events,  commitments or  uncertainties,
which  have not  otherwise  been  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 remaining five  properties are located
in four  different  States  across 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
---------------------

The results of operations of the Partnership, as well as the Local Partnerships,
remained fairly  consistent  during the three and nine months ended December 25,
2000 and 1999,  excluding  Player's  Club at Fort Myers,  Ltd.,  Suntree at Fort
Myers,  Ltd.,  Brookwood and Apple Creek which sold their respective  properties
and related assets and liabilities (collectively the "Sold Assets").

The  Partnership's  primary source of income  continues to be its portion of the
Local Partnerships'  operating results. 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.

Rental income decreased  approximately 26% and 21% for the three and nine months
ended December 25, 2000 as compared to 1999.  Excluding the Sold Assets,  rental
income  increased  approximately  4% for both the  three and nine  months  ended
December 25, 2000 as compared to 1999, primarily due to rental rate increases.

Other income increased approximately 14% for the three months ended December 25,
2000 as compared to 1999.  Excluding  the sold assets,  other  income  increased
approximately  29% for the three months ended December 25, 2000 primarily due to
higher cash and cash equivalent balances at the Partnership level.

Total expenses,  excluding the operations for the Sold Assets and the categories
of  administrative  and management  and  administrative  and  management-related
parties, and repairs and maintenance, remained fairly consistent with a decrease
of less than 1% for both the three and nine months  ended  December  25, 2000 as
compared to 1999.

Administrative and management decreased  approximately  $17,000 and $216,000 for
the three and nine months ended December 25, 2000 as compared to 1999. Excluding
the Sold Assets,  administrative and management increased  approximately $74,000
and  $240,000  for the three and nine months  ended  December 25, 2000 and 1999,
primarily due to an increase in employee benefits,  postage, telephone and cable
fees at one Local  Partnership  as well as an increase in printing  costs at the
Partnership level.

Administrative and  management-related  parties decreased  approximately $88,000
and $241,000  for the three and nine months ended  December 25, 2000 as compared
to  1999.  Excluding  the Sold  Assets,  administrative  and  management-related
parties  decreased  approximately  $49,000  and  $129,000,  primarily  due  to a
decrease  in  Partnership  management  fees  due  to  the  sales  of  the  Local
Partnerships.

Repairs and maintenance decreased  approximately  $116,000 and $410,000 for both
the three and nine months ended December 25, 2000 as compared to 1999. Excluding
the Sold Assets,  repairs and maintenance increased  approximately  $203,000 and
$384,000, primarily due to repairs on building exteriors,  concrete work, common
area painting and rehabilitation of transferred and neglected units at two Local
Partnerships.

Operating,  taxes and  insurance,  interest and  depreciation  and  amortization
decreased approximately $119,000 and $314,000,  $180,000 and $405,000,  $570,000
and $1,521,000,  $597,000 and $1,222,000,  respectively,  for the three and nine
months ended  December 25, 2000 as compared to 1999,  primarily due to decreases
relating to the Sold Assets.  Excluding  the Sold Assets,  operating,  taxes and
insurance  and  interest  increased  (decreased)   approximately   ($1,000)  and
($22,000), ($8,000) and $15,000, ($8,000) and ($62,000), respectively. Excluding
the Sold Assets and  Triangle/Oaks,  Suncreek and Woodridge for depreciation and
amortization  only,   depreciation  and  amortization  expense  remained  fairly
consistent with an increase of  approximately  $13,000 and $34,000 for the three
and nine months  ended  December  25,  2000 as compared to 1999.  Triangle/Oaks,
Suncreek and Woodridge are not  depreciated  during the period  because they are
classified as assets held for sale.

Item 3.  Quantitative  and Qualitative  Disclosures  about
Market Risk

None


<PAGE>



                           PART II - OTHER INFORMATION

Item 1.    Legal Proceedings - None

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:

           27   Financial Data Schedule (filed herewith).

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



<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 II LIMITED PARTNERSHIP
                                  (Registrant)

              By: RELATED ADVANTAGED RESIDENTIAL
                  ASSOCIATES, INC., a General Partner

Date:

                  By:
                     --------------------------------
                     Alan P. Hirmes,
                     Senior Vice President
                     (principal financial officer)

Date:

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

              By: RELATED AND CAMBRIDGE ASSOCIATES,
                  LIMITED PARTNERSHIP,
                                a General Partner

                  By:Related Advantaged Residential
                                Associates, Inc.,
                               its General Partner

Date:

                     By:
                         ----------------------------
                         Alan P. Hirmes,
                         Senior Vice President
                         (principal financial officer)

Date:

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


<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 II LIMITED PARTNERSHIP
                                  (Registrant)

              By: RELATED ADVANTAGED RESIDENTIAL
                  ASSOCIATES, INC., a General Partner

Date:  January 22, 2001

                              By:/s/ Alan P. Hirmes
                     Alan P. Hirmes,
                     Senior Vice President
                     (principal financial officer)

Date:  January 22, 2001

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

              By: RELATED AND CAMBRIDGE ASSOCIATES,
                  LIMITED PARTNERSHIP,
                                a General Partner

                  By:Related Advantaged Residential
                                Associates, Inc.,
                               its General Partner

Date:  January 22, 2001

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

Date:  January 22, 2001

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