Ceres Plaza Apartments LLC purchased Ceres Plaza Apartments in Chico, CA from Hill Properties for a confirmed $10.75 million, $86.70 per square foot with a 7% cap rate. Located at 1459 East Lassen Ave., the property totals 124,044 square feet and spreads over 8.5 acres. The unit mix is comprised of 36 studios measuring 368 square feet each, 40 one-bedroom/one-baths measuring 564 square feet each and 108 two-bedroom/one-baths measuring 817 square feet each. Currently, the rents range from $450-$800 per month. Ceres Plaza, which was 98% occupied at the close of escrow, offers a clubhouse, business center, a pool and jacuzzi for tenant enjoyment. Jas Bains with Marcus & Millichap in Sacramento represented the buyer. Gary Gallelli Jr. with Colliers International in Sacramento represented the seller.