8036 & 8038 116th Ave 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.