240 Oleander AvePalm Beach, FL 33480

Property Details for 240 Oleander Ave

Year built

1952

Lot size

0.20 AC

Property size (Sq ft)

3,610 SF

Property type

Residential income homes

Property subtype

Apartment buildings

Description

This exceptional Palm Beach property offers a unique investment opportunity. Currently featuring a three-unit apartment building (two 1-bedroom and one 2-bedroom units) totaling 2,718 net rentable square feet on a 0.195-acre lot, the property is zoned R-C—MEDIUM DENSITY RESIDENTIAL (50-PALM BEACH). Approved architectural plans exist for a complete redevelopment into a stunning 5-bedroom, 6.5-bathroom chateau. The existing building, constructed in 1952, sits on one of the largest lots on Oleander Avenue and offers five parking spaces. The asking price is $5,850,000, translating to $1,620.50 per square foot of the existing building and $1,950,000 per unit. The property is currently vacant. This prime location provides proximity to breathtaking ocean and intracoastal views, world-class dining, high-end shopping, and cultural attractions. The redevelopment plans envision expansive living spaces, a gourmet kitchen, a luxurious master suite with spa-like bathroom and private terrace, a lavish pool, and a beautifully landscaped garden. This is a rare chance to create a dream home in the heart of Palm Beach. The property's address is 240 Oleander Ave, Palm Beach, FL 33480, with APN 50-43-43-15-06-000-0110. The property is classified as Class A, and the investment type is Value Add Redevelopment.

Location Insight

City

Palm Beach

County

Palm Beach

State

Florida

Latitude

26.7215

Longitude

-80.0397

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].