5 photos$5,199,000list price
Price cut$800,999
3 bd · 2 ba · 1,807 sq ft House
2259 IBIS ISLE RD E, PALM BEACH, FL 33480
Listing courtesy of Douglas Elliman Jupiter. MLS# B26022996.On the MLS · Listed Apr 30
$5,200,000
240 OLEANDER AVE, PALM BEACH, FL 33480
4 beds4 baths2,718 sq ftHouseBuilt 1952
Updated today, November 3, 2026This home against Palm Beach
$1,913 per sq ft, 16% over the Palm Beach median
37 days on the market
Price cut $550,000 since it was listed at $5,750,000
$62,501 in property taxes (2025)
8,712 sq ft lot
1 car garage
Palm Beach today: 233 homes for sale, median list price $2,795,000.
About this home
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.
Near this home
Elementary school: Belvedere Elementary School, 1.4 mi
Middle school: Conniston Middle School, 1.7 mi
High school: Worthington High School, 2.2 mi
Park: Pan's Garden, 0.5 mi
Grocery: Publix, 1 mi
Distances from the center of PALM BEACH. Schools are nearest by distance, not an attendance zone.
Listing courtesy of Compass Florida LLC. MLS# R11164744.
Listing information is provided by the MLS and is deemed reliable but not guaranteed.
Listed September 27, 2026.
Similar homes near PALM BEACH
5 photos
5 photos$5,950,000list price
Per sq ft$2,543
3 bd · 2.5 ba · 2,340 sq ft House
234 PARK AVE, PALM BEACH, FL 33480
Listing courtesy of Illustrated Properties. MLS# B26079841.On the MLS · Listed Sep 22
3 photos$6,000,000list price
Per sq ft$4,870
4 bd · 2 ba · 1,232 sq ft House
256 SEMINOLE AVE, PALM BEACH, FL 33480
Listing courtesy of The Corcoran Group. MLS# R11121002.On the MLS · Listed Sep 3
4 photos$6,000,000list price
Per sq ft$2,003
5 bd · 3.5 ba · 2,995 sq ft House
219 SEMINOLE AVE, PALM BEACH, FL 33480
Listing courtesy of The Corcoran Group. MLS# R11114168.On the MLS · Listed Aug 7
5 photos$5,100,000list price
Per sq ft$3,512
3 bd · 2 ba · 1,452 sq ft Condo or villa
236 PHIPPS PLZ #202, PALM BEACH, FL 33480
Listing courtesy of Engel & Volkers Wellington. MLS# B26079491.On the MLS · Listed Sep 22
5 photos$5,100,000list price
Per sq ft$2,257
3 bd · 3 ba · 2,260 sq ft Condo or villa
150 BRADLEY PL #101, PALM BEACH, FL 33480
Listing courtesy of William Raveis Real Estate. MLS# R11071592.On the MLS · Listed Mar 13