The odd-parity multipole is an emergent degree of freedom, leading to spontaneous inversion symmetry breaking. The odd-parity multipole order may occur by forming staggered even-parity multipoles in a unit cell. We focus on a locally noncentrosymmetric bilayer Rashba system, and study an odd-parity electric octupole order caused by the antiferro stacking of local electric quadrupoles. Analyzing the forward scattering model, we show that the electric octupole order is stabilized by a layer-dependent Rashba spin-orbit coupling. The roles of the spin-orbit coupling are clarified on the basis of the analytic formula of multipole susceptibility. The spin texture allowed in the D 2d point group symmetry and its magnetic response are revealed. Furthermore, we show that the parity-breaking quantum critical point appears in the magnetic field. The possible realization of the electric octupole order in bilayer high-T c cuprate superconductors is discussed.