Bay Area Apartment Property Changes Hands

Cityview and Greystar sold the community.

Exterior of an apartment building

The property is located in Mountain View, Calif. Image courtesy of of Cityview and Greystar

A joint venture of Cityview and Greystar have sold Mountain View, Calif., apartment community Elan Mountain View. The buyer of the 164-unit mixed-use property, which is situated in a prime corner location in the municipality’s downtown district, could not immediately be identified.

In addition to multifamily residences, Elan Mountain View also includes 11,000 square feet of ground-floor retail space, all of it occupied. Retail tenants include Oh! Honey Bakery, Rose International Market, Mr. Sun, Le’s Alterations and Tanya’s Hair Design.

Located at 1030 Castro St., Elan Mountain View offers renters a choice of studio, one-, two- and three-bedroom apartments. Units include full tile kitchen backsplashes, full-sized in-unit washers and dryers, smart thermostats and private balconies.

Prime location

Situated at the convergence of Highways 101, 85 and 237, Elan Mountain View is less than one mile from the Mountain View Caltrain Station. Both the highways and the train provide residents with convenient access to San Jose, as well as the Peninsula and San Francisco. In Downtown Mountain View, visitors have a choice of more than 50 restaurants, bars and retail outlets in a walkable setting. Downtown has 1 million square feet of real estate occupied by employers. Fast-growing, household names like Amazon, Google, Microsoft and Apple are located less than three miles away.

Cityview and Greystar initially broke ground on the Elan Mountain View development in 2016. Construction was completed in 2018. Three months ago, a joint venture involving MidPen Housing and EPACANDO broke ground on Colibri Commons, a new affordable apartment community in the Bay Area setting of East Palo Alto, Calif.

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