240 Oleander Ave, Palm Beach, FL, 33480
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 optionsmaking it a rare opportunity on Palm Beach Island.
Getting Around
Somewhat Walkable
Very Limited Transit
Very BikeableSchools
Construction
Condition
- Year built: 1952
Materials
- Roof: Asphalt
- Construction materials: Block
Type & Style
- Home type: SingleFamily
- Architectural style: Traditional
- Property subType: Single Family Residence,Residential
Interior
Appliances
- Appliances included: Refrigerator,Freezer,Dishwasher,Disposal,Washer,Dryer,Oven
Bedrooms & Bathrooms
- Bedrooms: 4
- Bathrooms: 4
- Full bathrooms: 4
Cooling
- Cooling features: Central Air,Multi Units
Features
- Ceiling Fan(s)
- Window features: Window Treatments,Single Hung,Double Hung,Casement
- Flooring: Tile,Hardwood
Interior Area
- Total structure area: 2,718
- Total interior livable area: 2,718 sqft
Property
Details
- Parcel number: 50434315060000110
- Zoning: R-C - Medium Density Residential
Features
- Pool features: None
- Patio & porch: Patio
- Exterior features: Balcony
- Fencing: Back Yard
- Waterfront features: None
Lot
- Lot size: 8,712 sqft
- Lot size dimensions: 100
Parking
- Parking features: Attached
- Has garage: Yes
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Hurricane
- Coastal Flooding
- Heat Wave
- Tsunami
How This Home’s Risks Compare
FEMA Declared Disasters in Palm Beach County and Florida
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $27,810 | $333,720 |
| Home Insurance * | $1,628 | $19,536 |
| Property Taxes | $6,875 | $82,500 |
| Electricity | $273 | $3,282 |
| Total | $36,586 | $439,032 |
Income You'd Need if You Spent...
Florida FAIR Plan Programs
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-02-18 | Listed for sale | $5,750,000 |
| 2026-02-17 | Listing removed | $5,750,000 |
| 2026-02-03 | Listed for sale | $5,750,000 |
| 2025-06-02 | Listing removed | $5,500,000 |
| 2025-05-08 | Price change | $5,500,000 |
| 2024-11-21 | Price change | $5,700,000 |
| 2024-06-04 | Listed for sale | $5,850,000 |
| 2024-05-02 | Listing removed | $6,495,000 |
| 2023-06-02 | Price change | $6,495,000 |
| 2023-04-01 | Price change | $5,995,000 |
| 2022-12-15 | Listed for sale | $6,495,000 |
| 2022-11-01 | Listing removed | -- |
| 2022-10-21 | Listed for rent | $4,000 |
| 2022-02-14 | Sold | $3,250,000 |
| 2004-12-29 | Sold | $1,000,000 |
| 2003-10-27 | Sold | $48,375 |
| 1997-05-12 | Sold | $350,000 |
| 1994-08-03 | Sold | $325,000 |
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