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Apartment in Escondido on Bear Valley sold

The 24-unit apartment, at 2530 Bear Valley Parkway in Escondido 92027, has been sold for approximately $4,986,500.

The price included payment of $1,926,500 and assumption of a December 2010 lien of $3.06 million from P & R Mortgage and Investment.

The buyer was Betty L. Miller LLC, a California limited liability company, 12837 Camino Emparrado, San Diego 92128.

Betty L. Miller, as trustee of the Betty L. Miller Trust, is manager of Betty L. Miller LLC.

The seller of the property (assessor's parcel 231-110-52) was BVE Apartments LLC, a California limited liability company. PCD Bear Valley, LLC is the manager member of BVE, and Commercial Development LLC is the sole member and manager of PCD. Andrew J. Held is the president of Pedcor.

The approximately 24,216-square-foot apartment was constructed in 1987 on a 1.59-acre lot. The property was sold in December 2010 for $3,294,000.

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