$5,500,000

240 Oleander Avenue, Palm Beach, FL 33480

4 beds |
4 baths |
2,718 sqft

Single-Family Home
Built in 1952
8,712sqft lot
1 car garage
$2,024/sqft
Listed 4 months ago

Property Description

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.

Listing Status:: Active
Date Added:: February 15, 2026
Data Last Updated:: June 26, 2026 at 5:06AM
Listing Office:: Compass Florida LLC : 305-851-2820
Listing Agent:: Jeffrey Creegan : 561-939-9819
MLS ID:: R11164744

General: Split BedroomUtility/Laundry In GarageUtility RoomUtility Room/Laundry
Appliances: DishwasherDryerRefrigerator
Laundry: Laundry RoomIn GarageUtility Room/Laundry
Flooring: CarpetCeramic FloorWood
A/C: Central AirWall/Window Unit(s)
Heating: CentralWindow/Wall

General: Livable
Style: Split Level
Other Structures: Patio
Parking: 1 Space2 Or More SpacesParking GarageParking spaces: 1

Roofing: Comp Shingle RoofComposition RollShingle
General: Concrete Block ConstructionCBS Construction2

HOA Amenities: None
Originating MLS: Miami Association of REALTORS®
County: Palm Beach County

Zoning: R-CJEANETTE COURT ADD LTS 11 & 1250434315060000110

Utilities: Sewer ConnectedWater ConnectedSewer AvailableWater Available3 Phase ElectricElectricity on Property
Sewer: At SitePublic SewerOtherPublic SanitationSewer

Source: Miami Association of REALTORS®

This listing courtesy of Jeffrey Creegan , Compass Florida LLC

Monthly Payment

$Est. Payment

Principal & Interest $
Property Taxes $
Home Insurance $
VA Funding Fee $

Ready to Start a VA Loan?

Get Started

NMLS #1907 ^†

Get Prequalified »

Interest rates used in the VA mortgage calculator are shown for illustrative purposes only. Your rate may differ based on a variety of factors, including your credit score and the current market conditions. To get your personalized interest rate, start your quote online.