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4 Beds
4 Baths
2,718 sqft

$5,200,000

240 Oleander Avenue, Palm Beach FL, 33480

Price per sqft$1,913.17
Built in1952
Property size2,718 sqft
Property typeResidential

Overview

Active

Listed Sep 28, 2026

Updated 2 weeks ago

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 optionsmaking it a rare opportunity on Palm Beach Island.

$34,596/mo

Est. mortgage payment based on a $5,200,000 home price.

All estimates are provided by Luxury Presence for informational purposes only. Actual amounts may vary.

Additional information

MLS® ID
26-326

Interior Features

Bedrooms
4
Bathrooms
4
Cooling
Yes
Basement
No

Exterior Features

Lot Size
0.2 Acres

Other Property Details

Taxes
$51,939
Tax Frequency
Annually
Garage
Yes

Also listed on RMLS & RAGFL

MLS provider logo

Listed by JEFFREY CREEGAN with Compass Florida, LLC
Listing Contact: [email protected] 

The IDX display contains information sourced from the Palm Beach Board of REALTORS® as of 9/29/2026. This data is intended solely for personal, non-commercial use and is not to be utilized for any other purposes except to identify potential properties for purchase. Although the MLS data displayed is typically considered reliable, it is not guaranteed to be accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and are advised to conduct their own investigations or seek professional assistance. Other sources besides the Listing Agent may have contributed to the MLS data presented. Unless expressly specified in writing, the Broker/Agent has not confirmed any information obtained from external sources. The Broker/Agent may or may not have acted as the Listing and/or Selling Agent and cannot guarantee the accuracy of property locations displayed on any map. Any compensation offers are solely made to participants of the MLS where the listing is registered.

©2026 Palm Beach Board of REALTORS® all rights reserved.

Data last updated on 9/29/2026 at 3:35 AM UTC

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