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$839,999
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Property Description
Impeccable investment property located in the highly desirable Bayway section of Elizabeth, NJ, offering a rare opportunity for both investors and owner-occupants. The building features four well-designed units, each consisting of 1 bedroom, 1 full bathroom, a comfortable living room, and a separate dining area, providing functional and inviting layouts that are consistently in demand. All units are in excellent, move-in condition and have been meticulously maintained, reflecting true pride of ownership and minimal deferred maintenance. A standout feature of the property is the right-side unit, which includes a fully finished basement, offering additional usable space that can serve as recreation, storage, or extended living adding both flexibility and potential value. Situated in a strong rental corridor with close proximity to major highways, public transportation, shopping, and local amenities, this property benefits from consistent tenant demand and long-term stability. With its solid unit mix, turnkey condition, and prime location, this asset presents an excellent opportunity for immediate cash flow, long-term appreciation, or owner-occupancy with supplemental income, making it a valuable addition to any real estate portfolio.
Full Property Details
Full Property Details for 718-722 Thomas St
General
- Price: $839,999
- Taxes: $12,152 (2025)
- Status: Active
- Type: Multi-Family
- Source: Garden_State
- MLS ID: 4022414
- Updated: 4/29/2026
- Added to Site: 54 day(s) ago
Interior
- Number of Rooms: 12
Rooms
Bathrooms
- Total Bathrooms: 4
- Full Bathrooms: 4
Bedrooms
- Total Bedrooms: 4
Location
- County: Union
- Driving Directions: TAKE BAYWAY TO THOMAS ST
Heating & Cooling
- Cooling Type: See Remarks
- Heating Type: 1 Unit
- Heating Fuel: Natural Gas
Utilities
- Sewer: Public Sewer
- Water: Public Water
- Utility Description: Natural Gas
Structural Information
- Architectural Style: Duplex-Side by Side
- Exterior Const.: Brick, Stucco
- Basement: Yes
- Basement Desc.: Finished, Full
- Roof: Asphalt Shingles
- Square Feet: 4,796
- Year Built: 1945
Unit Information
Unit 1
- Unit Description: Bedrooms, Dining Room, Kitchen, Living Room
- Levels/Stories: 1
- Total Bathrooms: 1
- Bedrooms: 1
Unit 2
- Unit Description: Bedrooms, Dining Room, Kitchen, Living Room
- Levels/Stories: 1
- Total Bathrooms: 1
- Bedrooms: 1
Unit 3
- Unit Description: Bedrooms, Dining Room, Kitchen, Living Room
- Levels/Stories: 2
- Total Bathrooms: 1
- Bedrooms: 1
Unit 4
- Unit Description: Bedrooms, Dining Room, Kitchen, Living Room
- Levels/Stories: 2
- Total Bathrooms: 1
- Bedrooms: 1
Lot Features
- Lot Size (Acres): 0.11
- Lot Dimensions: 48 x 100
- Driveway/Sidewalk: On-Street Parking
Financial Considerations
- Assessment Amount: $420,700
- Land Assmt: $181,800
- Tax Amount: $12,152
- Tax Year: 2025
Disclosures and Reports
- Block: 496
- Lot Number: 4
Listed by New and Modern Group
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Schools
Schools serving 718-722 Thomas St
School District:Elizabeth City School District
| Name | Grades | Distance |
|---|---|---|
No 5 Mabel Holmes Middle School 650 Bayway, Elizabeth, NJ 07202 | PK-8 | 0.1 mi |
T A Edison Career Tech Academy 625 Summer Street, Elizabeth, NJ 07202 | 9-12 | 0.4 mi |
Adm W F Halsey Leadership Academy 641 South Street, Elizabeth, NJ 07202 | 9-12 | 1 mi |
John E Dwyer Tech Academy 123 Pearl Street, Elizabeth, NJ 07202 | 9-12 | 1 mi |
T Jefferson Arts Academy 27 Martin Luther King Junior Boulevard, Elizabeth, NJ 07201 | 9-12 | 1.2 mi |
Elizabeth High School 40 Morrell Street, Elizabeth, NJ 07202 | 9-12 | 1.3 mi |
A Hamilton Preparatory Academy 310 Cherry Street, Elizabeth, NJ 07208 | 9-12 | 1.6 mi |
Disclaimer:
School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 718-722 Thomas St
Date
Details
Price
Change
Source
4/22/2026
Listed
$839,999
93.1%
MLS
12/28/2021
Sold
$435,000
—
Public Record
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Tax History
Tax History for 718-722 Thomas St
Year
Property Taxes
Change
Tax Assessment
Change
2024
$11,592
-13%
$602,500
1285%
2022
$13,302
2%
$43,500
—
2021
$13,027
-9%
$43,500
-12%
2019
$14,326
1%
$49,700
—
2018
$14,186
3%
$49,700
—
2017
$13,790
—
$49,700
—
2016
$13,791
6%
$49,700
—
2015
$12,971
9%
$49,700
—
2013
$11,877
—
$49,700
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 718-722 Thomas St
718-722 Thomas St, Elizabeth, NJ 07202 (MLS# 4022414) is a Multi-Family property with 4 units containing 4 bedrooms and 4 full bathrooms. 718-722 Thomas St is currently listed for $839,999 and was received on April 22, 2026. Want to learn more about 718-722 Thomas St? Do you have questions about finding other Multi-Family real estate for sale in Elizabeth? You can browse all Elizabeth real estate or contact a Coldwell Banker agent to request more information.

