240 Oleander Avenue

Palm Beach, FL 33480

$5,500,000

$2,024/ft²

4Beds

4Baths

2,718Sq ft

1952Year built

Single-family homeType

About this home

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.

Property details

Listing

MLS #: R11164744
Status: For sale
Listed on: Feb 15, 2026
Days on market: 176 days
Listing data updated: Jul 16, 2026

Interior

Beds: 4
Baths: 4
Living area: 2,718 ft²
Price per ft²: $2,024/ft²

Building & community

Type: Single-family home
Year built: 1952
County: Palm Beach

Lot & exterior

Lot size: 8,506 ft²

Days on market, price per ft² and the monthly HOA amount are calculated by this site from the MLS data shown; the association fee is normalized to a monthly figure.

True monthly cost

Mortgage (principal & interest): $27,811
Property taxes (est.): $5,042
Home insurance (est.): $600
Flood insurance (est.): —

Estimated total$33,453*/mo

* Some cost lines aren't available yet for this listing; the total shown is incomplete.

Based on 20% down, a 6.5% rate and a 30-year loan, plus this home's estimated Florida carrying costs. All figures are illustrative estimates — not quotes, not financial or insurance advice.

Sources: flood zone — FEMA National Flood Hazard Layer; mortgage, taxes and insurance figures — this site's own estimates; HOA / CDD — as reported for this listing.

What will this home really cost you?