Castro Valley's 62-Unit Mosaic Apartment Complex Sells For $23M

CASTRO VALLEY, CA — A huge community apartment complex just sold in Castro Valley for a whopping $23 million, according to Levin Johnston Commercial Real Estate Advisory Group.

Nestled on 2.92 acres, the complex was originally built in 1961 and is located near Castro Valley Shopping Center, which hosts a diverse menagerie of shops, eateries and entertainment centers.

The value of the 62-unit complex, located about 27 miles southeast of San Francisco, was driven up by a recent influx of residents from neighboring cities and due to its proximity to tech employers such as Apple and Google.

A recent report from the U.S. Postal Service revealed that San Francisco residents leaving the city were not leaving the state‚ they were flocking to Bay Area suburbs. Alameda County ranked at the top of the list of destination for those living the city.

"Alameda County is a top destination for those looking to leave the hustle and bustle of the city, while still enjoying proximity to major employers, great weather, a scenic environment, and an abundance of recreation and entertainment offerings," Adam Levin, Levin Johnston's Executive Managing Director, said in a statement.

"Mosaic Apartments is a great middle ground for those looking to experience tranquility while still being close enough to reap the benefits of city life," he said.