468 N IRONWOOD Drive, Apache Junction, AZ 85120 (MLS# 6991518)

468 N IRONWOOD Drive, Apache Junction, AZ 85120

$1,000,000

Property Type: Multiple Dwellings Status: Active

Current Price: $1,000,000 List Date: 3/02/2026 Last Modified: 4/17/2026

Overview

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. ***Seller may carry***

Listing Details MLS# 6991518

Location, Tax & Legal

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
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

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: 200X300
Year Built: 1950
Total # of Units: 7
# of Buildings: 7
Zoning: GR
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
Uncvrd Parking Spcs: 0

Remarks Misc

Cross Street: SUPERSTITION FRWY TO IRONWOOD DR

Legal Info

Township: 01N
Range: 08E
Section: 19
Block: 3
Lot Number: 19

Income Expenses

Gross Annual Sch Inc: 84000
Net Operating Income: 73300

More Information

Showing Notification Methods

Showing Service: Aligned Showings

Efficiency Units

# Efficiency Units: Yes
Avg Rent: 650
Avg SqFt: 342
# Baths: Yes

1 Bedroom Units

# 1 Bedroom Units: 3
Avg Rent: 1000
Avg SqFt: 498
# Baths: Yes

2 Bedroom Units

# 2 Bedroom Units: 3
Avg Rent: 1050
Avg SqFt: 685
# Baths: Yes

Mobile Home Prk Info

# Double Wide Spaces: Yes
Avg Rent Double Wide: 1350

Contact Info

List Agent Home Phn: 602-435-6708

Project Type

5 - 12 Units: Yes

Other Type

Packaged Offering: Yes

Construction

Block: Yes
Wood Frame: Yes

Const - Finish

Painted: Yes

Roofing

Other: Yes

Floors

Concrete: Yes
Ceramic Tile: Yes
Carpet: Yes

Sale Includes

Land & Building: Yes

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: 7.33
Equity: 1000000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0

Lockbox Type

None: Yes

Community Features

No Pool: Yes
Other: Yes
See Remarks: Yes

Heating

Forced Air: Yes
Electric: Yes

Cooling

Evaporative Cooling: Yes
Electric: Yes
Heat Pump: Yes
Window/Wall Unit: Yes
Individual: Yes
Other: Yes

Exterior Amenities

Desert Landscaping: Yes
Fenced: Yes
Partially Fenced: Yes
RV/Boat Parking: Yes
Cable TV Available: Yes

Interior Features

Unfurnished: Yes

Tenant Pays

Gas: Yes
Electricity: Yes
Cable TV: Yes

Appliances Included

Disposal: Yes
Refrigerator: Yes
Built-In Range: Yes
W/D Hookup: Yes

Road Access Type

City Street: Yes

Road Surface Type

Asphalt: Yes

Source of Fincl Data

Owner: Yes

Road Responsibility

City Maintained Road: Yes

Water Source

Private: Yes

Sewer

Septic Tank: Yes

Parking Features

Boat: Yes
Free: Yes
Add'l Parking Avail: Yes
RV Access/Parking: Yes
See Remarks: Yes

Electric

SRP: Yes

Gas

SW Gas: Yes
None: Yes
Other (See Remarks): Yes

Owner Pays

Water: Yes

New Financing

Cash: Yes
Conventional: Yes
Owner May Carry: Yes
1031 Exchange: Yes
Other (See Remarks): Yes

Existing 1st Loan

Treat as Free&Clear: Yes

Existing 1st Loan Type

Not Applicable: Yes

Existing 1st Loan Terms

Not Applicable: Yes

Existing 2nd Loan

Treat as Free&Clear: Yes

Existing 2nd Loan Type

Not Applicable: Yes

Existing 2nd Loan Terms

Not Applicable: Yes

Existing 3rd Loan

Treat as Free&Clear: Yes

Existing 3rd Loan Type

Not Applicable: Yes

Reports/Disclosures

None: Yes

Existing 3rd Loan Terms

Not Applicable: Yes

Environmental

None: Yes

Existing Othr Ln Trm

Not Applicable: Yes

3 Bedrooms Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

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; Owner May Carry; 1031 Exchange; Other (See Remarks) Environmental: None

Listing Office: Orchard Brokerage

Last Updated: April - 17 - 2026