MLS #2495562 / Listing provided by NWMLS & Coldwell Banker Bain.
$2,195,000
8036 & 8038 116th Avenue SE
Newcastle,
WA
98056
Prime Newcastle Development Opportunity – Two Parcels Sold Together Rare chance to acquire two adjacent parcels totaling 27,480 SF (0.63 acres) in the heart of Newcastle—ideal for builders, investors, or owner-users. Both properties generate strong rental income, offering a perfect hold-and-develop opportunity or future custom home site in one of the Eastside’s most desirable locations. Per city guidance, zoning may allow up to 4 single-family lots, with additional potential for duplexes, ADUs, cottage housing, or a unit-lot subdivision. Condo ownership structure may also be possible depending on design (buyer to verify). 8038 116th Ave SE – Updated hilltop 4-bed, 2-bath home (~1,350+ SF) with remodeled baths, new paint, and updated flooring. Rented at $3,250/month. 8036 116th Ave SE – Spacious 3-bed, 1.75-bath home (1,680 SF) with two living areas, remodeled kitchen and baths, plus large backyard. Rented at $3,450/month. Continue strong cash flow, explore development potential, or short plat and build your dream home. Prime location near parks, schools, and commuter routes. A rare opportunity combining land, income, and future upside in sought-after Newcastle.
Disclaimer: The information contained in this listing has not been verified by Hawkins-Poe Real Estate Services and should be verified by the buyer.
Bedrooms
- Upper Level Bedrooms: 0
- Possible Bedrooms: 6
Fireplaces
- Total Fireplaces: 0
Heating & Cooling
- Heating: No
- Cooling: No
Lot Details
- Lot Features: Corner Lot, Dead End Street, Open Space, Paved, Sidewalk
- Acres: 0.6309
Schools
- High School District: Renton
- High School: Hazen Snr High
- Middle School: Risdon Middle School
- Elementary School: Hazelwood Elem
Lot Details
- Lot Features: Corner Lot, Dead End Street, Open Space, Paved, Sidewalk
- Acres: 0.6309
Water, Sewer, and Garbage
- Sewer: Not Available
- Water Source: Available
James White
Broker | REALTOR®
Send James White an email