$5,200,000
240 Oleander Avenue, Palm Beach FL 33480
258 days on marketPrice reduced $300,000 on Sep 28, 2026
- Bedrooms
- 4
- Bathrooms
- 4
- Living area
- 2,718 sqft
- Price per sqft
- $1,913
- Type
- Single Family Residence
- Year built
- 1952
- Taxes
- $62,501/yr
- MLS #
- R11164744
About this home
The best opportunity to build your dream home in Palm Beach is here. Ideally positioned on a 100' x 85' lot in one of Palm Beach's most coveted in-town locations, this meticulously maintained two-story CBS-construction multifamily property offers exceptional versatility and long-term upside. Just steps from the ocean and moments from Palm Beach's premier restaurants, boutiques, and cultural destinations, the setting is truly unparalleled. The sale includes pre-approved plans for an approximately 4,500-square-foot new residence, creating an outstanding opportunity for redevelopment or custom end-user use. The existing structure is configured as three well-appointed apartments, including one two-bedroom/two-bath residence and two one-bedroom/one-bath units, providing immediate income potential. Additional features include a garage topped by a private rooftop deck, four off-street parking spaces, and 100 feet of frontage on Oleander Avenue. Whether preserved as an income-producing asset or transformed into a new luxury estate, this offering combines solid construction, an irreplaceable location, and multiple value-enhancement options making it a rare opportunity on Palm Beach Island.
Estimated subtotal
$5,208/mo
- Principal and interestThe current market rate is not available right now. Enter the rate your lender quoted.
- Not included
- Property taxMLS 2025 annual tax, shown monthly
- $5,208
- HOANot in the MLS record
- Not included
The current market rate is not available right now. Enter the rate your lender quoted.
Estimate. Jumbo and investor loans are often priced differently; verify with your lender. Property tax is the seller's current bill and may be reassessed after purchase. Items marked Not included are not in this total.
Is this the right price?
We send written comps, the full cost of owning it and an offer strategy before you tour or offer.
The neighborhood
Palm Beach, 33480
Listing courtesy of Compass Florida LLC
Listing data provided by the Miami Association of Realtors MLS, deemed reliable but not guaranteed.