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.