468 N IRONWOOD Drive, Apache Junction, AZ 85120
New Listing
$1,200,000
Property Type:
Multiple Dwellings
Status:
Active
Current Price:
$1,200,000
List Date:
3/02/2026
Last Modified:
3/02/2026
Description
Stabilized asset with strategic upside in a growth corridor. 468 N Ironwood Dr delivers the fundamentals investors prioritize: strong history, consistent occupancy, and a rent roll positioned for upward adjustment. The property benefits from Apache Junction's expanding rental base and limited competing supply. Recent improvements support long-term durability and reduce operational volatility, giving new ownership predictable performance from day one. Current rents remain below market for the submarket, creating a clear path to improved cash flow through renewal increases or light-touch repositioning. The location offers durable tenant demand with proximity to retail, schools, and major arterials, keeping vacancy low and turnover minimal.
Supplements: Ideal for long-term hold, mid-term reposition, or strategic refinance, this property offers both stability and measurable upside in one of the East Valley's most landlord-friendly markets.
More Information MLS# 6991518
Contract Info
Ownership: Fee Simple
Current Price: $1,200,000
List Price: $1,200,000
Status: Active
List Date: 2026-02-28
Location, Tax & Legal
Assessor's Map #: 2
Legal Description (Abbrev): LOT 19 BLOCK 3 AMD PLAT OF NEWTOWN CAB 5 SLD 23A
Assessor's Parcel #: 74
Assessor Parcel Ltr: O
Add'l Parcels: Yes
Tax Municipality: Pinal - COUNTY
Census Tract: 308
Taxes: 1564
Legal: LOT 19 BLOCK 3 AMD PLAT OF NEWTOWN CAB 5 SLD 23A
Marketing Name: AJ cash cow
House Number: 468
Compass: N
Street Name: IRONWOOD
St Suffix: Drive
City/Town Code: Apache Junction
State/Province: AZ
Zip Code: 85120
Zip4: 3829
County Code: Pinal
Subdivision: AMD PLAT OF NEWTOWN
Assessor Number: 101-02-074-O
Tax Year: 2025
General Property Description
# of Buildings: 7
Uncvrd Parking Spcs: 0
Lot Size Dimensions: 200X300
Total # of Units: 7
Elementary School District: Apache Junction Unified District
High School District: Apache Junction Unified District
Elementary School: The Classical Academy at Superstition Mountain
High School: Apache Junction High School
Year Built: 1950
Zoning: GR
Legal Info
Range: 08E
Section: 19
Township: 01N
Block: 3
Lot Number: 19
Project Type
5 - 12 Units: 1
Other Type
Packaged Offering: 1
Construction
Block: 1
Wood Frame: 1
Const - Finish
Painted: 1
Roofing
Other: 1
Floors
Concrete: 1
Ceramic Tile: 1
Carpet: 1
Sale Includes
Land & Building: 1
Income & Expenses
Annual Elec Exp: 1800
Annual Gas Exp: 0
Annual Ins Exp: 3000
Annual Land Lse Exp: 0
Annual Landscape Exp: 0
Annual Legal & Acctg: 0
Annual Maint Exp: 0
Annual Mgmt Exp: 18000
Annual Trash Exp: 1800
Annual Wtr/Swr Exp: 3500
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 0
Operating Exp: 29664
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 84000
Total Monthly Rental Income: 6850
Pmt & Rate Info
Cap Rate: 6.11
Equity: 1200000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Showing Notification Methods
Showing Service: Aligned Showings
Lockbox Type
None: 1
Community Features
No Pool: 1
Other: 1
See Remarks: 1
Heating
Forced Air: 1
Electric: 1
Cooling
Evaporative Cooling: 1
Electric: 1
Heat Pump: 1
Window/Wall Unit: 1
Individual: 1
Other: 1
Exterior Amenities
Desert Landscaping: 1
Fenced: 1
Partially Fenced: 1
RV/Boat Parking: 1
Cable TV Available: 1
Interior Features
Unfurnished: 1
Tenant Pays
Gas: 1
Electricity: 1
Cable TV: 1
Appliances Included
Disposal: 1
Refrigerator: 1
Built-In Range: 1
W/D Hookup: 1
Road Access Type
City Street: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Road Responsibility
City Maintained Road: 1
Water Source
Private: 1
Sewer
Septic Tank: 1
Parking Features
Boat: 1
Free: 1
Add'l Parking Avail: 1
RV Access/Parking: 1
See Remarks: 1
Electric
SRP: 1
Gas
SW Gas: 1
None: 1
Other (See Remarks): 1
Owner Pays
Water: 1
New Financing
Cash: 1
Conventional: 1
1031 Exchange: 1
Existing 1st Loan
Treat as Free&Clear: 1
Existing 1st Loan Type
Not Applicable: 1
Existing 1st Loan Terms
Not Applicable: 1
Existing 2nd Loan
Treat as Free&Clear: 1
Existing 2nd Loan Type
Not Applicable: 1
Existing 2nd Loan Terms
Not Applicable: 1
Existing 3rd Loan
Treat as Free&Clear: 1
Existing 3rd Loan Type
Not Applicable: 1
Reports/Disclosures
None: 1
Existing 3rd Loan Terms
Not Applicable: 1
Environmental
None: 1
Existing Othr Ln Trm
Not Applicable: 1
Contact Info
List Agent Home Phn: 602-435-6708
Efficiency Units
# Efficiency Units: 1
Avg Rent: 650
Avg SqFt: 342
# Baths: 1
1 Bedroom Units
# 1 Bedroom Units: 3
Avg Rent: 1000
Avg SqFt: 498
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 3
Avg Rent: 1050
Avg SqFt: 685
# Baths: 1
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Mobile Home Prk Info
# Double Wide Spaces: 1
Avg Rent Double Wide: 1350
Remarks Misc
Cross Street: SUPERSTITION FRWY TO IRONWOOD DR
Geo Lat: 33.419468
Geo Lon: -111.564061
Income Expenses
Gross Annual Sch Inc: 84000
Net Operating Income: 73300
Property Features
Project Type: 5 - 12 Units
Other Type: Packaged Offering
Construction: Block; Wood Frame
Const - Finish: Painted
Roofing: Other
Floors: Concrete; Ceramic Tile; Carpet
Sale Includes: Land & Building
Community Features: No Pool; Other; See Remarks
Exterior Amenities: Desert Landscaping; Fenced; Partially Fenced; RV/Boat Parking; Cable TV Available
Interior Features: Unfurnished
Appliances Included: Built-In Range; Refrigerator; Disposal; W/D Hookup
Heating: Forced Air
Cooling: Electric; Heat Pump; Window/Wall Unit; Evaporative Cooling; Individual; Other
Water Source: Private
Sewer: Septic Tank
Electric: SRP
Gas: SW Gas; None; Other (See Remarks)
Parking Features: Boat; Add'l Parking Avail; RV Access/Parking; Free; See Remarks
Road Access Type: City Street
Road Surface Type: Asphalt
Road Responsibility: City Maintained Road
Owner Pays: Water
Tenant Pays: Electricity; Gas; Cable TV
Source of Fincl Data: Owner
Lockbox Type: None
Existing 1st Loan: Treat as Free&Clear
Existing 1st Loan Type: Not Applicable
Existing 1st Loan Terms: Not Applicable
Existing 2nd Loan: Treat as Free&Clear
Existing 2nd Loan Type: Not Applicable
Existing 2nd Loan Terms: Not Applicable
Existing 3rd Loan: Treat as Free&Clear
Existing 3rd Loan Type: Not Applicable
Existing 3rd Loan Terms: Not Applicable
Existing Othr Ln Trm: Not Applicable
New Financing: Cash; Conventional; 1031 Exchange
Environmental: None
Listing Office:
Orchard Brokerage
Last Updated: March - 02 - 2026
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