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.
Listing Provided Courtesy of Vera Brodsky, Coldwell Banker Bain
General Information
NWM2495562
Land
1
DOM
0.63 acres
0
King
Hazelwood Elem
Risdon Middle S
Hazen Snr High
Land
Land
Listing Provided Courtesy of Vera Brodsky, Coldwell Banker Bain
Krishna Realty data last checked: Mar 21, 2026 01:33 | Listing last modified Mar 20, 2026 20:31,
Source:
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Residence Information
0
40 - Res-Less thn 1 Ac
Features and Utilities
Available
Not Available
Financial
15540
Cash, Conventional
03-20-2026
Comparable Information
1
1
Cash, Conventional
$2,195,000
$2,195,000
Mar 20, 2026 20:31
Schools
Elementary : Hazelwood ElemN/ARatings Middle : Risdon Middle S N/ARatings High : Hazen Snr HighN/ARatings
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.
