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.
Active
Listed by: Coldwell Banker Bain
$2,195,000
8036 & 8038 116th Avenue SE, Newcastle, WA 98056
7beds
3,030sqft
Est.:
Single Family Residence
Built in 1967
0.63 Acres Lot
$2,066,900 Zestimate®
$724/sqft
$-- HOA
What's special
Large backyardRemodeled kitchen and bathsUpdated flooringRemodeled bathsNew paint
- 17 days |
- 708 |
- 28 |
Zillow last checked: 7 hours ago
Listing updated: March 25, 2026 at 08:42am
Listed by:
Vera Brodsky,
Coldwell Banker Bain
Source: NWMLS as distributed by MLS GRID,MLS#: 2495212
Tour with a local agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 7
- Bathrooms: 4
- Full bathrooms: 3
- 3/4 bathrooms: 1
- Main level bathrooms: 4
- Main level bedrooms: 7
Primary bedroom
- Level: Main
Bedroom
- Level: Main
Bedroom
- Level: Main
Bedroom
- Level: Main
Bedroom
- Level: Main
Bedroom
- Level: Main
Bedroom
- Level: Main
Bathroom full
- Level: Main
Bathroom full
- Level: Main
Bathroom full
- Level: Main
Bathroom three quarter
- Level: Main
Dining room
- Level: Main
Entry hall
- Level: Main
Family room
- Level: Main
Kitchen with eating space
- Level: Main
Living room
- Level: Main
Heating
- Fireplace, Baseboard, Forced Air, Wall Furnace, Electric, Natural Gas
Cooling
- None
Appliances
- Included: Dishwasher, Disposal, Dryer, Refrigerator, Stove(s)/Range(s), Washer, Dishwasher(s), Dryer(s), Garbage Disposal, Refrigerator(s), Washer(s)
Features
- Bath Off Primary, Ceiling Fan(s)
- Flooring: Ceramic Tile, Hardwood, Vinyl, Carpet
- Windows: Dbl Pane/Storm Window
- Basement: None
- Number of fireplaces: 2
- Fireplace features: Wood Burning, Main Level: 2, Fireplace
Interior area
- Total structure area: 3,030
- Total interior livable area: 3,030 sqft
Property
Parking
- Total spaces: 2
- Parking features: Driveway, Attached Garage, RV Parking
- Has attached garage: Yes
- Covered spaces: 2
Features
- Levels: One
- Stories: 1
- Entry location: Main
- Patio & porch: Bath Off Primary, Ceiling Fan(s), Dbl Pane/Storm Window, Fireplace, Walk-In Closet(s)
- Has view: Yes
- View description: Territorial
Lot
- Size: 0.63 Acres
- Features: Corner Lot, Dead End Street, Open Lot, Paved, Sidewalk, Value In Land, Cable TV, Fenced-Fully, Gas Available, Patio, RV Parking
- Topography: Level,Partial Slope
- Residential vegetation: Garden Space
Details
- Parcel number: 3346300273
- Special conditions: Standard
Construction
Type & style
- Home type: SingleFamily
- Architectural style: 1 Story
- Property subtype: Single Family Residence
Materials
- Cement Planked, Wood Siding, Cement Plank
- Foundation: Poured Concrete
- Roof: Composition
Condition
- Year built: 1967
Utilities & green energy
- Electric: Company: PSE
- Sewer: Septic Tank, Company: Septic
- Water: Public, Company: Coal Creek Utility District
Community & HOA
Community
- Subdivision: Newcastle
Location
- Region: Renton
Financial & listing details
- Price per square foot: $724/sqft
- Annual tax amount: $15,540
- Date on market: 3/19/2026
- Cumulative days on market: 18 days
- Listing terms: Conventional
- Inclusions: Dishwasher(s), Dryer(s), Garbage Disposal, Refrigerator(s), Stove(s)/Range(s), Washer(s)
Estimated market value
$2,066,900
$1.96M - $2.17M
$4,865/mo
Price history
Price history
| Date | Event | Price |
|---|---|---|
| 3/20/2026 | Listed for sale | $2,195,000$724/sqft |
Source:  NWMLS as distributed by MLS GRID #2495212 Report a problem | ||
Public tax history
Public tax history
Tax history is unavailable.BuyAbility℠ payment
Est. payment
$12,360/mo
Principal & interest
$10860
Property taxes
$1500
More affordability tools
Climate risks
Neighborhood: 98056
Nearby schools
GreatSchools rating
- 10/10Hazelwood Elementary SchoolGrades: K-5Distance: 0.5 mi
- 7/10Vera Risdon Middle SchoolGrades: 6-8Distance: 0.7 mi
- 6/10Hazen Senior High SchoolGrades: 9-12Distance: 2.5 mi
Schools provided by the listing agent
- Elementary: Hazelwood Elem
- Middle: Risdon Middle School
- High: Hazen Snr High
Source: NWMLS as distributed by MLS GRID. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
Local experts in 98056
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- 8036 & 8038 116th Avenue SE
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