$5,750,000

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
$2,116/sqft
Listed 2 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 18, 2026
Data Last Updated:: May 12, 2026 at 12:22AM
Listing Office:: Compass Florida LLC : 305-851-2820
Listing Agent:: Jeffrey Creegan : 561-939-9819
MLS ID:: R11164744

General: Living/Dining RoomNoneSplit Bedrooms
Appliances: DryerDishwasherRefrigerator
Laundry: In Garage
Flooring: CarpetCeramic TileWood
A/C: Central AirWall/Window Unit(s)
Heating: CentralWall Furnace

General: BalconyOutdoor Living Area
Style: Traditional
Other Structures: BalconyDeckPatio
Parking: AttachedGarage

Roofing: CompositionShingle
General: Block2

HOA Amenities: None
Originating MLS: BEACH_BEACH
County: Palm Beach

Zoning: R-CJEANETTE COURT ADD LTS 11 & 1250434315060000110

Utilities: Sewer AvailableWater Available3 Phase
Sewer: Public Sewer

Source: BEACH_BEACH

This listing courtesy of Jeffrey Creegan , Compass Florida LLC

Monthly Payment

$Est. Payment

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

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