240 Oleander Avenue, Palm Beach, FL 33480

$5,200,000 — Pending

Property Features

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The best opportunity to build your dream home in Palm Beach is here. 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.

▼ Price Reduced — originally listed at $5,750,000

Property Details

  • Listing ID: R11164744
  • Status: Pending
  • Listing Date: 2026-02-15
  • Property Type: Single Family Residence
  • Subdivision: JEANETTE COURT
  • County: Palm Beach
  • MLS Area: 4110
  • Bedrooms: 4
  • Full Bathrooms: 4
  • Living Area Sq Ft: 2,718
  • Lot Dimensions: 100.0 ft x 85.0 ft
  • Year Built: 1952

Financial

  • List Price: $5,200,000
  • Original List Price: $5,750,000
  • HOA Fee: None
  • Taxes: $62,501/yr

Features & Amenities

  • Furnished: Unfurnished
  • Pets Allowed: Yes
  • Parking: Garage, Attached Garage
  • Cooling: Central Air, Wall/Window Unit(s)
  • Heating: Central, Window/Wall
  • Flooring: Carpet, Ceramic Tile, Wood
  • Construction: Block, CBS
  • Roof: Composition, Shingle
  • Interior Features: Bedroom Layout - Split
  • Exterior Features: Balcony

Courtesy of Compass Florida LLC
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© 2026 Starfish Real Estate. Listings updated Nov 12, 2026 5:00 am. Listing data is derived from the Broker Reciprocity Program of the Realtor Association of Indian River County (RAIRC) and BeachsMLS. Properties listed by brokers other than Starfish Real Estate are identified with the applicable MLS logo and include the listing broker's name. Not all properties available through either MLS may be displayed. All MLS data is the copyrighted property of the respective MLS and its participants. Data is deemed reliable but is not guaranteed accurate and should be independently verified prior to entering into any transaction.