Mosaic Apartments in the Castro Valley has traded hands for $23 million. The participants in the deal were not disclosed. The property is located 27 miles from San Francisco and 30 miles from San Jose.

Located at 19972 Stanton Avenue in Castro Valley, Mosaic Apartments is on nearly 3 acres. The building totals 46,540 square feet and offers a mix of one-, two- and three-bedroom units. With a central location, the property has access to several major employment markets in the surrounding cities, with proximity to major employers like Google, Facebook, Apple, Salesforce and Visa.

In the early days of the pandemic, there was reportedly strong migration out of San Francisco that contributed to massive reductions in apartment and office rents. According to US Postal Service data, change-of-address submissions show that many residents that left the city proper merely relocated to the suburbs. According to the research, the top six destinations of residents exiting San Francisco were in other Bay Area counties, with Alameda County, where Mosaic Apartments is located, the top choice for relocation.