1 EXHIBIT 21 IRVINE APARTMENT COMMUNITIES, INC. SUBSIDIARIES OF THE REGISTRANT

   1
                                                                      EXHIBIT 21

                       IRVINE APARTMENT COMMUNITIES, INC.

                         SUBSIDIARIES OF THE REGISTRANT






                                                     State of
                                                     Incorporation
Subsidiary                                           of Organization
----------                                           ---------------
                                                  
Irvine Apartment Communities, L.P.                   Delaware

San Xxxxxx Apartment Limited Partnership             California

IAC Management, Inc.                                 California