Dutch oven
Dutch ovens are great for cooking many different recipes in your kitchen. With the abliity to saute vegetables on the stove top, roast chichen in the oven, or make chili over a campfire, these babies can really do it all. Obviously a top of the line Le Creuset Dutch oven for $300+ may be too much of an investment for a first apartment, but there are more affordable options! Check out this one from Target or this one from the Martha Stewart line at Macy's, and then go online for tons of tasty recipes using a Dutch oven.