Discover one of the most storied residences in downtown West Palm Beach, Grandview Gardens. Originally built in 1925, this Mediterranean Revival estate embodies the architectural grace and tropical allure that define South Florida's golden era, offering a rare blend of historic pedigree, income potential, and modern livability. Set on over a half an acre within the Grandview Heights Historic District, the property spans more than 7,700 square feet across two distinct structures and the inclusion of 734 Palm Street further enhances this potential, offering additional lot depth and street access for future improvements or guest accommodations. The main residence, nearly 5,000 square feet, features 6 bedrooms, 4.5 baths, and an abundance of old-world character, graceful archways, original hardwood and terracotta flooring, high pecky cypress ceilings, and elegant entertaining spaces that open seamlessly to the tropical gardens. 2 additional stand alone structures, totaling approximately 2,800 square feet, houses 5 private suites each with its own entrance, en-suite bath, and outdoor terrace. Perfect for visiting guests, multigenerational living, or continued use as a boutique bed and breakfast. Potential opportunity exists to add 5 additional rooms as permitted by the Bed & Breakfast license; however, this expansion is subject to city and historic board approval. The estate is equipped with two full laundry rooms for guest and staff use, and on-site staff currently resides on the property and will convey with the sale, ensuring a seamless transition for continued operations or personal management. The grounds evoke a private resort, surrounded by mature palms, stone pathways, an inviting inground pool and lush greenery, creating the perfect setting for outdoor entertaining and relaxation. A two-car garage and additional off-street parking complete the property's exceptional functionality. Ideally located just five blocks from the Intracoastal Waterway and within walking distance to CityPlace, the Norton Museum, and the restaurants of downtown West Palm Beach, this residence blends historic charm with modern convenience. Whether envisioned as a signature private estate, a multi-unit income property, or continuing with one of the highest-rated luxury lodging facilities in the state, 1608 Lake Avenue & 734 Palm St. stand as a once-in-a-generation opportunity and the largest landmarked estates in West Palm Beach's most desirable historic enclave.