New

$8,975,000

For Sale

16 hours ago

6701 Kelly, San Diego, CA

Name: 6701 Kelly, For Sale in San Diego - eXp Realty
Brand: Salvatore Joseph Provenza Jr
SKU: OC26221659
Price: 8975000 USD

Condo

MLS® OC26221659

0 Bed

0 Bath

Key Facts
Description
Map

Key Facts

Type Apartment

Levels Residential Income

Size -

Garage

HOA Fees

Taxes

Days Active 1

Approx. Age 1941

MLS® Number OC26221659

Property Address: 6701 Kelly, San Diego, CA, 92111

Average square foot calculated using Size range provided by listing agent.

Description

WD Land is pleased to present the opportunity to acquire The Kelly, a 27-unit multifamily community at 6701 Kelly Street in Linda Vista, one of central San Diego’s most accessible neighborhoods. Originally constructed in 1941, the property underwent a comprehensive gut renovation in 2022 that delivered new interiors, new windows, a new roof, plumbing upgrades and new electrical, positioning the asset as turnkey product for its next owner. The offering is composed of 12 townhome units, 12 apartment units, a duplex and an ADU on a ±45, 738 SF (±1.05-acre) parcel with 56 on-site surface parking spaces, a 2.07-per-unit ratio. The mix spans three one-bedroom, eight two-bedroom/one-bath, twelve two-bedroom/two-bath and four three-bedroom homes, giving the property depth across household sizes. Renovated interiors feature quartz countertops, white shaker cabinetry, stainless steel appliances, wide-plank flooring, ceiling fans and refreshed tiled baths. At the offering price of $8, 975, 000 ($332, 407 per unit and $357.57 per SF), the property delivers a 6.08% cap rate on in-place income and 6.43% at market rents, at a 10.35 gross rent multiplier. Modeled with 30% down at a 6.00% interest rate, in-place income covers debt service at 1.21x and produces a 3.5% cash-on-cash return, rising to 1.28x and 4.7% at market. With the major capital work behind it, ownership can focus on operations rather than construction. RUBS utility reimbursement, laundry and pet rent income are in place, and the market scenario identifies further savings in trash service and property management. Linda Vista’s central position between Mission Valley, Kearny Mesa and the University of San Diego, with direct access to I-805, SR-163 and I-8, supports durable renter demand. The Kelly offers 1031 exchange buyers, private capital and long-term holders a renovated, income-producing asset at scale in the urban core

MLS® NumberOC26221659

Locker

Ensuite Laundry

Balcony

Furnished

Laundry Level

Exposure

Exterior

Garage

Approx. Age1941

Stories1

Pets

Included in Maintenance Fee

Heat

Hydro

Water

Building Insurance

Condo Taxes

Cable TV

Central Air

Parking Maintenance

Utilities

HeatCentral

A/CNone

Extras

Price History

-End Date

Not Sold YetSold Price

For Sale

Oct 12, 2026List Date

$8,975,000List Price

Commute

Commute

Starting Address

Destination Address

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