$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 1 month 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:: March 27, 2026 at 8:20PM
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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Location

Schools Nearby

Palm Beach Public School

239 Cocoanut Row, Palm Beach, FL, 33480

Grades KG-5

1.00 miles away

Roosevelt Community Middle School

1900 N Australian Ave, West Palm Beach, FL, 33407

Grades 6-8

1.72 miles away

Alexander W Dreyfoos Junior School of the Arts

501 S Sapodilla Ave, West Palm Beach, FL, 33401

Grades 9-12

1.48 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.