Share this Property:

• MLS® #: RX-11150999
• 1701 S Olive Avenue
• West Palm Beach, FL 33401
• $3,495,000
• 5 Beds, 4 Bath, 3,556 SqFt
• Residential

Located in the Mango Promenade Historic District, this 1918 Craftsman residence offers a rare opportunity to acquire a historically significant property in the heart of downtown West Palm Beach that is currently configured and used as three apartments, while presenting outstanding potential to be reimagined as a gorgeous single-family Craftsman residence with carriage house.Ideally positioned on South Olive Avenue, just moments from the Norton Museum of Art, CityPlace, Palm Beach Atlantic University, the Intracoastal Waterway, and the bridges to Palm Beach, the property combines architectural character, walkability, and long-term value in one of the city's most desirable neighborhoods.The main house is currently arranged as two apartments, together comprising fourbedrooms and three bathrooms. The layout retains the generous room sizes, classic proportions, 10-foot ceilings, original Dade County pine floors, fireplaces, and abundant natural light that define early Craftsman architecture. While presently configured for multi-unit use, the scale and flow of the main residence lend themselves naturally to conversion back into a gracious single-family home, restoring the original Craftsman character while maintaining flexibility. A detached two-car carriage house completes the property and includes a fully independent one-bedroom, one-bath apartment. This structure is ideal for guest accommodations, extended family, home office, or studio use, and enhances privacy whether the property is enjoyed as a single residence or maintained with multiple living areas. Significant capital improvements have already been completed, allowing the next owner to focus on vision rather than infrastructure. Recent updates include a newly installed roof, impact-rated windows and doors, new HVAC, updated electrical and plumbing, and roof straps for hurricane resistance. Solid CBS construction further enhances durability, insulation, and long-term peace of mind. The property features a private garden sanctuary, a rare amenity in a walkable downtown setting. Mature landscaping provides a quiet outdoor retreat ideal for entertaining, dining, or relaxation. Secure off-street parking via the two-car garage adds convenience seldom found in this location. While currently used as a three-apartment property, the home's architectural integrity, proportions, and layout make it especially compelling for buyers seeking to convert it into a stunning single-family Craftsman residence, with the added benefit of a carriage house for guests or flexible use. The current configuration also allows for interim income or phased conversion, subject to buyer preference and local regulations. Downtown West Palm Beach continues to benefit from strong demand driven by walkability, cultural institutions, Brightline high-speed rail access, proximity to Palm Beach Island, and sustained regional growth. The nearby Norton Museum of Art serves as a cultural anchor, supporting neighborhood prestige and long-term value. Historic district designation helps preserve architectural character and neighborhood integrity. A rare opportunity to acquire a historic Craftsman property with income capability today and the potential to become a beautiful single-family residence tomorrow, located in one of South Florida's most vibrant and culturally rich downtown neighborhoods.

Facts About West Palm Beach, FL

To enjoy a taste of the local ethnic cuisine that has inspired West Palm Beach since its inception visit Havana. This Cuban-style restaurant features specialties like Cuban coffee, fried churros , exotic fruits and slow roasted Spanish chicken.

West Palm Beach is home to over one million people and is the 3rd most populated city in the state of Florida.

One of West Palm Beach's favorite venues for a cold drink and some nice South Florida relaxation is E.R. Bradley's Saloon. This open air restaurant is a frequent stop for both locals and tourists.