<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 September 25, 2001

                                       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

<Table>
<Caption>
                   CAMBRIDGE ADVANTAGED PROPERTIES II LIMITED
                          PARTNERSHIP AND SUBSIDIARIES
                           Consolidated Balance Sheets
                                   (Unaudited)

                                             ================= =================
                                                SEPTEMBER 25,       MARCH 25,
                                                   2001              2001
                                             ----------------- -----------------
<S>                                          <C>                 <C>
ASSETS
Property and equipment held
  for sale - net of accumulated
  depreciation of $11,045,433 and
  $31,899,194, respectively                      $11,464,722       $38,338,237
Cash and cash equivalents                          4,097,170         2,068,675
Cash - restricted for tenants'
  security deposits                                  105,300           290,573
Mortgage escrow deposits                             711,503         1,300,124
Deferred costs, net of accumulated
  amortization of  $117,610 and
  $907,014, respectively                             495,082           823,935
Prepaid expenses and other assets                    770,956           816,453
                                                 -----------       -----------
Total assets                                     $17,644,733       $43,637,997
                                                 ===========       ===========


                                       2
<Page>

                   CAMBRIDGE ADVANTAGED PROPERTIES II LIMITED
                          PARTNERSHIP AND SUBSIDIARIES
                           Consolidated Balance Sheets
                                   (Unaudited)
                                   (continued)

                                             ================= =================
                                                SEPTEMBER 25,       MARCH 25,
                                                   2001              2001
                                             ----------------- -----------------
<S>                                          <C>                 <C>
LIABILITIES AND PARTNERS' DEFICIT
Liabilities
  Mortgage notes payable                         $16,678,458       $50,396,675
  Accounts payable, accrued
   expenses and other liabilities                    254,134         3,682,893
  Tenants' security deposits payable                 105,300           290,573
  Due to general partners of
  subsidiaries and their affiliates                  440,585           527,589
  Due to general partners and
   affiliates                                      4,697,736         4,648,852
                                                 -----------       -----------
Total liabilities                                 22,176,213        59,546,582
                                                 -----------       -----------

Minority interest                                  1,586,295         3,771,395
                                                 -----------       -----------
Commitments and contingencies
  (Note 4)
  Partners' deficit:
  Limited partners                                (5,739,050)      (19,165,633)
  General partners                                  (378,725)         (514,347)
                                                 -----------       -----------
Total partners' deficit                           (6,117,775)      (19,679,980)
                                                 -----------       -----------
Total liabilities and partners'
  deficit                                        $17,644,733       $43,637,997
                                                 ===========       ===========
</Table>

See Accompanying Notes to Consolidated Financial Statements.


                                       3
<Page>

                   CAMBRIDGE ADVANTAGED PROPERTIES II LIMITED
                          PARTNERSHIP AND SUBSIDIARIES
                      Consolidated Statements of Operations
                                   (Unaudited)
<Table>
<Caption>
                     ===========================   ===========================
                          THREE MONTHS ENDED              SIX MONTHS ENDED
                              SEPTEMBER 25,                 SEPTEMBER 25,
                          2001           2000           2001           2000
                     ---------------------------   ---------------------------
<S>                  <C>            <C>            <C>            <C>
Revenues

Rentals, net         $  2,155,690   $  3,400,537   $  4,807,734   $  6,933,239
Other                     166,421        208,166        278,322        339,073
Gain on sale of
  property (Note 3)    17,205,619              0     17,140,604      2,951,106
                     ------------   ------------   ------------   ------------
Total revenues         19,527,730      3,608,703     22,226,660     10,223,418
                     ------------   ------------   ------------   ------------

Expenses
Administrative and
  management              494,105        717,089      1,033,871      1,475,108
Administrative and
  management-
  related parties
  (Note 2)                226,208        231,099        465,585        489,366
Operating                 113,845        178,659        285,100        407,461
Repairs and
  maintenance             529,501        679,999        958,358      1,094,129
Taxes and insurance       172,011        324,862        427,529        678,127
Interest                  765,124      1,354,452      1,718,251      2,770,279
Depreciation and
  amortization            230,178        516,198        249,048      1,029,410
                     ------------   ------------   ------------   ------------
Total expenses          2,530,972      4,002,358      5,137,742      7,943,880
                     ------------   ------------   ------------   ------------
Income (loss) before
  minority interest    16,996,758       (393,655)    17,088,918      2,279,538
Minority interest
  in (income) loss of
  subsidiaries         (3,527,875)         4,284     (3,526,713)        (8,481)
                     ------------   ------------   ------------   ------------
Net income (loss)     $13,468,883  $    (389,371)   $13,562,205   $  2,271,057
                     ============  ==============   ===========   ============
</Table>

See Accompanying Notes to Consolidated Financial Statements.











                                       4
<Page>

                   CAMBRIDGE ADVANTAGED PROPERTIES II 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, 2001              $(19,679,980)       $(19,165,633)      $(514,347)

Net income - six
  months ended
  September 25, 2001            13,562,205          13,426,583         135,622
                             -------------       -------------       ---------

Balance-
  September 25, 2001         $  (6,117,775)      $  (5,739,050)      $(378,725)
                             =============       =============       =========
</Table>

See Accompanying Notes to Consolidated Financial Statements.






















                                       5
<Page>

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

<Table>
<Caption>
                                                ==============================
                                                        SIX MONTHS ENDED
                                                          SEPTEMBER 25,
                                                ------------------------------
                                                    2001              2000
                                                ------------------------------
<S>                        <C>              <C>
Cash flows from operating activities:

Net income                                      $ 13,562,205     $   2,271,057
                                                ------------     -------------
Adjustments to reconcile net income
  to net cash provided by (used in)
  operating activities:
Gain on sale of property                         (17,140,604)       (2,951,106)
Depreciation and amortization                        249,048         1,029,410
Minority interest in income
  of subsidiaries                                  3,526,713             8,481
(Increase) decrease in cash-restricted
  for tenants' security deposits                    (101,054)           26,173
Increase in mortgage escrow deposits                (106,997)         (328,467)
Increase in prepaid
  expenses and other assets                          (19,904)         (706,374)
Increase in accounts payable,
   accrued expenses and
  other liabilities                                  456,860         1,595,597
Increase (decrease) in tenants'
  security deposits payable                           15,899            (4,728)
Decrease in due to general partners
  of subsidiaries and their affiliates               (73,581)          (34,952)
Increase (decrease) in due to
  general partners and affiliates                     48,259        (1,493,999)
                                                ------------     -------------
Total adjustments                                (13,145,361)       (2,859,965)
                                                ------------     -------------
Net cash provided by (used in)
  operating activities                               416,844          (588,908)
                                                ------------     -------------
</Table>



















                                       6
<Page>

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

<Table>
<Caption>
                                               -------------------------------
                                                      SIX MONTHS ENDED
                                                          SEPTEMBER 25,
                                               -------------------------------
                                                    2001               2000
                                               -------------------------------
<S>                                            <C>                  <C>
Cash flows from investing activities:

Net proceeds from the sale of
  property                                        33,479,297         1,638,742
Decrease (increase) in mortgage
  escrow deposits - replacement
  reserves                                            44,734           (63,816)
Acquisition of property and
  equipment                                          (30,387)          (69,958)
                                               -------------     -------------
Net cash provided by investing
  activities                                      33,493,644         1,504,968
                                               -------------     -------------
Cash flows from financing activities:

Principal payments of mortgage
  notes payable                                  (26,170,180)         (456,412)
Decrease in capitalization
  of consolidated subsidiaries
  attributable to minority interest               (5,711,813)         (198,010)
                                               -------------     -------------
Net cash used in financing activities            (31,881,993)         (654,422)
                                               -------------     -------------
Net increase in cash and cash
  equivalents                                      2,028,495           261,638
Cash and cash equivalents-
  beginning of period                              2,068,675         1,504,490
                                               -------------     -------------
Cash and cash equivalents-
  end of period                                $   4,097,170     $   1,766,128
                                               =============     =============
</Table>






















                                       7
<Page>

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

<Table>
<Caption>
                                               -------------------------------
                                                      SIX MONTHS ENDED
                                                          SEPTEMBER 25,
                                               -------------------------------
                                                    2001               2000
                                               -------------------------------
<S>                                            <C>                  <C>
Supplemental disclosure of non cash
 activities:

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

Decrease in property and equipment,
  net of accumulated depreciation                $26,903,902        $4,006,580
Decrease in tenants security deposits                286,327                 0
Decrease in mortgage escrow deposits                 650,884            98,245
Decrease in deferred costs                            79,805            51,469
Decrease in accounts payable, accrued
  expenses and other liabilities                  (3,885,619)          (84,805)
Decrease in prepaid expenses and
  other assets                                        65,401            16,271
Decrease in tenants' security deposits
  payable                                           (201,172)          (21,445)
Decrease in mortgage notes payable                (7,548,037)       (5,378,679)
Increase in due to general partners
  and affiliates                                         625                 0
Decrease in due to general partners
  of subsidiaries and their affiliates               (13,423)                0
</Table>

See Accompanying Notes to Consolidated Financial Statements.


















                                       8
<Page>

                   CAMBRIDGE ADVANTAGED PROPERTIES II LIMITED
                          PARTNERSHIP AND SUBSIDIARIES
                   Notes to Consolidated Financial Statements
                               September 25, 2001
                                   (Unaudited)

Note 1 - General

The consolidated financial statements for the six months ended September 25,
2001 and 2000, include the accounts of Cambridge Advantaged Properties II
Limited Partnership (the "Partnership") and five and eight subsidiary
partnerships, respectively ("subsidiaries", "subsidiary partnerships" or "Local
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
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.

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 $3,565,000 and $1,000 and $3,565,000 and $1,000 for the
three and six months ended September 25, 2001 and 2000, respectively. In


                                       9
<Page>

                   CAMBRIDGE ADVANTAGED PROPERTIES II LIMITED
                          PARTNERSHIP AND SUBSIDIARIES
                   Notes to Consolidated Financial Statements
                               September 25, 2001
                                   (Unaudited)

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, 2001. 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, 2001, the results of operations
for the three and six months ended September 25, 2001 and 2000 and cash flows
for the six months ended September 25, 2001 and 2000, respectively. However, the
operating results for the six months ended September 25, 2001 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, 2001 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.


                                       10
<Page>

                   CAMBRIDGE ADVANTAGED PROPERTIES II LIMITED
                          PARTNERSHIP AND SUBSIDIARIES
                   Notes to Consolidated Financial Statements
                               September 25, 2001
                                   (Unaudited)

Fees incurred to related parties for the three and six months ended September
25, 2001 and 2000 were as follows:

<Table>
<Caption>

                            THREE MONTHS ENDED             SIX MONTHS ENDED
                                SEPTEMBER 25,                SEPTEMBER 25,
                         -----------------------       -----------------------
                            2001          2000          2001            2000
                         -----------------------       -----------------------
<S>                    <C>              <C>          <C>              <C>
Partnership manage-
  ment fees (a)         $  93,750      $  86,750       $187,500       $215,500
Expense reimburse-
  ment (b)                 37,680         35,331         56,470         57,415
Property manage-
  ment fees incurred
  to affiliates of
  the General
  Partners (c)             25,623         43,274         83,903         84,544
Local administra-
  tive fee (d)              1,250          2,000          2,500          4,000
                         --------       --------       --------       --------
Total general and
  administrative-
  General Partners        158,303        167,355        330,373        361,459
                         --------       --------       --------       --------
Property manage-
  ment fees
  incurred
  to affiliates of the
  subsidiary
  partnerships'
  general
  partners (c)             67,905         63,744        135,212        127,907
                         --------       --------       --------       --------
Total general and
  administrative-
  related parties        $226,208       $231,099       $465,585       $489,366
                         ========       ========       ========       ========
</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 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 $3,629,000 and $3,466,000 were accrued and unpaid as of September
25, 2001 and March 25, 2001, 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.


                                       11
<Page>

                   CAMBRIDGE ADVANTAGED PROPERTIES II LIMITED
                          PARTNERSHIP AND SUBSIDIARIES
                   Notes to Consolidated Financial Statements
                               September 25, 2001
                                   (Unaudited)

(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
$44,000 and $134,000 were accrued and unpaid as of September 25, 2001 and March
25, 2001, respectively.

(c) Property management fees paid by subsidiary partnerships amounted to
$104,904 and $166,984 and $247,726 and $344,510 for the three and six months
ended September 25, 2001 and 2000, respectively. Of these fees $93,528 and
$107,018 and $219,115 and $212,451 were incurred to affiliates of the Local
General Partners. Of such amounts incurred to affiliates of the Local General
Partners, $25,623 and $43,274 and $83,903 and $84,544 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 September 25, 2001, the Partnership has
disposed of ten of its twelve original investments. The final two investments
are listed for sale and the General Partners anticipate that these remaining
investments will be disposed of by December 31, 2001. 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


                                       12
<Page>

                   CAMBRIDGE ADVANTAGED PROPERTIES II LIMITED
                          PARTNERSHIP AND SUBSIDIARIES
                   Notes to Consolidated Financial Statements
                               September 25, 2001
                                   (Unaudited)

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

SHERIDAN SQUARE ASSOCIATES OF LAWTON ("SHERIDAN")
On May 31, 2001, the Partnership assigned its limited partnership interest in
Sheridan to an unaffiliated third party purchaser for $10, resulting in a gain
of approximately $5,502,000.

TRIANGLE/OAKS LIMITED PARTNERSHIP ("TRIANGLE/OAKS")
On May 23, 2001, the property and the related assets and liabilities of
Triangle/Oaks were sold to an unaffiliated third party purchaser for a price of
$20,476,000, resulting in a gain of approximately $5,626,000. The Local
Partnership has filed a claim with their insurance company for $4,300,000 with
respect to termite damage. The claim was rejected by the insurance company and a
counter claim was filed. The Local Partnership intends to vigorously pursue
their claim against the insurance company. No assurance can be given that the
claim will be settled favorably.

SUNCREEK - 268 LTD. ("SUNCREEK")
On June 29, 2001, the property and related assets and liabilities of Suncreek
were sold to an unaffiliated third party purchaser for a price of $13,669,000,
resulting in a gain of approximately $6,062,000.

THE HARBOURS ASSOCIATES ("HARBOURS")
On August 6, 2001, Harbours entered into a purchase and sale agreement to sell
the property and the related assets and liabilities to an unaffiliated third
party purchaser for a price of $19,100,000. The closing is expected to occur in
November 2001. No assurances can be given that the sale will actually occur.



                                       13
<Page>

                   CAMBRIDGE ADVANTAGED PROPERTIES II LIMITED
                          PARTNERSHIP AND SUBSIDIARIES
                   Notes to Consolidated Financial Statements
                               September 25, 2001
                                   (Unaudited)

WESTWIND II ASSOCIATES ("WESTWIND")
On August 6, 2001, the Partnership entered into a purchase and sale agreement to
sell the limited partnership interest to the Local General Partner for a price
of $1,378,808. The closing is expected to occur in November 2001. No assurances
can be given that the closing will actually occur.

Note 4 - Commitments and Contingencies

Except as described in Note 3, 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, 2001.


























                                       14
<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. Cash distributions received from the Local
Partnerships to date have been sufficient to meet all current operating expenses
other than the payment of fees to the General Partners. During the six months
ended September 25, 2001 and 2000, such distributions amounted to approximately
$1,784,000 and $2,055,000, respectively. However, the Related General Partner
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 $1,020,000 and $1,015,000 at September 25, 2001 and March 25,
2001, respectively. In addition, certain fees and expense reimbursements owed to
the General Partners amounting to approximately $3,673,000 and $3,600,000 were
accrued and unpaid as of September 25, 2001 and March 25, 2001, 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.

During the six months ended September 25, 2001, cash and cash equivalents of the
Partnership and its consolidated Local Partnerships increased approximately
$2,028,000. This increase was attributable to the net proceeds from the sale of
properties ($33,479,000), cash flow provided by operating activities ($417,000)
and a decrease in mortgage reserve deposits ($45,000) which exceeded a decrease
in capitalization of consolidated subsidiaries attributable to minority interest
($5,712,000), principal payments of mortgage notes payable ($26,170,000) and
acquisition of property and equipment ($30,000). Included in the adjustments to
reconcile the net income to cash flow provided by operating activities is gain
on sale of properties ($17,141,000) and amortization ($249,000).

For a discussion of contingencies affecting certain Local Partnerships, see Note
4 to the financial statements.


                                       15
<Page>

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. Due to the sale of properties, the
portfolio is not diversified by the location of the properties around the United
States. The Partnership has two properties remaining located in one state and
therefore the Partnership may not be protected 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 six months ended September 25,
2001 and 2000, excluding AppleCreek, Woodridge, Triangle/Oaks and Suncreek which
sold their respective properties and the related assets and liabilities and
Sheridan in which the Partnership sold its limited partnership interest
(collectively the "Sold Assets").

Rental income decreased approximately 37% and 31% for the three and six months
ended September 25, 2001 as compared to 2000. Excluding the Sold Assets, rental
income increased approximately 5% and 4% for the three and six months ended
September 25, 2001 as compared to 2000, primarily due to rental rate increases.

Other income decreased approximately $42,000 and increased approximately $61,000
for the three and six months ended September 25, 2001 as compared to 2000.
Excluding the sold assets, other income increased approximately $17,000 and
$35,000, primarily due to higher cash and cash equivalent balances at the
Partnership level earning interest.

Total expenses, excluding the operations for the Sold Assets and the categories
of operating and repairs and maintenance remained fairly consistent with
increases of approximately 4% and less than 1% for the three and six months
ended September 25, 2001 as compared to 2000.

Operating expense decreased approximately $65,000 and $122,000 for the three and
six months ended September 25, 2001 as compared to 2000. Excluding the Sold
Assets, operating expenses increased approximately $2,000 and $21,000, due to a
increase in water and gas usage at one Local Partnership.


                                       16
<Page>

Repairs and maintenance decreased approximately $150,000 and $136,000 for the
three and six months ended September 25, 2001 as compared to 2000. Excluding the
Sold Assets, repairs and maintenance decreased approximately $56,000 and
$77,000, primarily due to repairs on building exteriors, concrete work, common
area painting and rehabilitation of neglected units at one Local Partnership in
2000.

Administration and management, taxes and insurance and interest decreased
approximately ($224,000) and ($441,000), ($153,000) and ($251,000), ($589,000)
and ($1,052,000), respectively, for the three and six months ended September 25,
2001 as compared to 2000, primarily due to decreases relating to the Sold
Assets. Excluding the Sold Assets, administration and management, taxes and
insurance and interest increased (decreased) approximately $21,000 and $32,000,
$3,000 and $8,000, ($6,000) and ($11,000), respectively.

Depreciation and amortization decreased approximately $286,000 and $780,000 for
the three and six months ended September 25, 2001 as compared to 2000 primarily
due to the sale of properties and all the remaining properties being classified
as assets held for sale and not being depreciated anymore.

Item 3.  Quantitative and Qualitative Disclosures about Market Risk

None



























                                       17

<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.





























                                       18
<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:  October 16, 2001

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

Date:  October 16, 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:  October 16, 2001

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

Date:  October 16, 2001

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