Updated Oct 29, 2026
SOLDMultiFamily
Peter Oberndorf And The Bascom Group Acquire Museum Park Apartments In San Jose For $53.1M
465 West San Carlos Street
$53,100,000
Units
117
Asset Type
MultiFamily
Closing
Oct 20, 2026
About this deal
AI
The transaction involved a multifamily property, Museum Park Apartments, comprising 117 units, located at 465 West San Carlos Street, San Jose, California. The property was sold for $53.1 million, translating to a price per unit of approximately $453,846.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $53,100,000
- Units: 117
- Price Per Unit: $453,846
- Buyer: Peter Oberndorf - Oberndorf Real Estate Management (OBREM), Derek Chen, Jerry Fink & David Kim - The Bascom Group
The deal was characterized by the partnership's intention to undertake renovations on apartment interiors, common areas, and amenities. This strategic decision aims to enhance the property’s value, driven by the growing job market and rental demand in Silicon Valley.
On the Map
$53,100,000
MultiFamily
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Players
San Jose MultiFamily Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.30%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93