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Prime Redevelopment OpportunityIn North Charleston~4726 Talisman StInvestor and Builder Alert! This 7, 180 sq ft lot, located in a fast-growing area of N Charleston, comes with a huge potential. The property currently features a 725 sq ft, 2 bed/ 1 bath home (built in 1955) but the real value lies in what can be built next. *Zoned R-2(Residential) with flexibility for multifamily use. *Proposed Development: Owner has concept drawings for a 5 unit multiplex. *Height Allowance: Up to 35ft. *Density Allowance: 1 dwelling per 1, 500 sq ft of lot area, or 1 dwelling per 1, 200 sq ft if there is a shared/common parking area. *Lot Coverage: Building Coverage Allowed 40%. Lot Occupancy Allowed 70%. *Flood Zone X. This property sits in a convenient location with easy access to Park Circledowntown Charleston, major employers, schools, and many area amenities. The redevelopment possibility at 4726 Talisman St provides a rare opportunity in a high demand rental market. Attached: An Architectural Site Plan prepared by Arwen Studio on June 03, 2025. The proposal is to replace the existing small single family house with a quadplex specifically but a 5 unit multifamily is possible. Parking requirements are 2 spaces per unit (if 2+ bedrooms). 4 units x 2= 8 parking spaces. The new structure is drawn as a quadplex, labeled units A, B, C, D. Two stacked units with 8 dwellings. Landscape buffers would be required on all four sides, but along the 2 side property lines, a fence could be installed in lieu of the buffer which would save on buildable width. *APPROVED FOR UP TO 5 UNITS. jUST NEED TO SUBMIT BUILDING PERMIT. *Land Conveys, Curent Structure Carries No Contributory Value!
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$319,000
William Raveis Real Estate
Phone: 888.699.8876
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RVP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 917.838.7300
Melissa.Cohn@raveis.com
NMLS Mortgage Loan Originator ID 16953
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5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
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|---|---|---|---|
| Loan Amount | $255,200 | $255,200 | $255,200 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.750% | 6.125% | 5.250% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.307% | 6.292% | 5.561% |
| Monthly Tax Payment | N/A | N/A | N/A |
| H/O Insurance Payment | $75 | $75 | $75 |
| Initial Principal & Interest Pmt | $1,489 | $1,551 | $2,052 |
| Total Monthly Payment | $1,564 | $1,626 | $2,127 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.