The Ceres Plaza apartment complex, located at 1459 East Lassen Ave., was built in 1984 and sits on 8.5 acres. The property consists of 36 studio apartments, 40 one-bedroom/one-bath units and 108 two-bedroom/one-bath units, ranging from 368 to 817-sf.
The complex's amenities include a clubhouse, pool, Jacuzzi and business center. At the time of the sale, the property was approximately 98% occupied. The asking rental rates for these units range from $500 to $800.
Jas Bains of Marcus & Millichap negotiated the deal, which totaled $10,754,755, or $58,450 per unit. The seller was Hill Companies, LLC based in Greenwood, Colorado.
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