SAN JOSE, CALIF. — A partnership between an affiliate of Oberndorf Real Estate Management (OBREM) and The Bascom Group has acquired Museum Park Apartments, a Class B+ multifamily property located at 465 W. San Carlos in San Jose, for $53.1 million. The name of the seller was not released.
Built in 2002 on 3 acres, the three-story garden-style community features 12 buildings offering a total of 117 one-, two- and three-bedroom apartments with in-unit washers/dryers. Additionally, most units feature attached private garages with just over half providing direct access to the homes. Community amenities include 130 parking spaces, including garages, a fitness center, green space, barbecue areas and a dog park.
The new ownership group plans to renovate the property by modernizing kitchens, bathrooms and common areas. Apartment Management Consultants will manage the community.