Listing Broker: Salvatore Joseph Provenza Jr
Listing Agent: Tosh Everett
DRE #01954054: 02212773
760-840-7073
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 ...
+ Read More| Listing Id: | OC26221659 |
|---|---|
| Property Type: | Residential Income |
| Status: | Active |
| Lot Size Acres: | 1.05 |
| Waterfront?: | No |
| Subdivision: | Linda Vista |
| Year Built: | 1941 |
| Basement Yn: | No |
| Building Area Units: | SquareFeet |
| Common Walls: | TwoCommonWallsOrMore |
| Cooling: | None |
| Electric Expense: | $5,376 |
| Entry Level: | 1 |
| Fireplace Features: | DiningRoom, Electric, Gas, Outside |
| Fireplace?: | Yes |
| Fuel Expense: | 0.0 |
| Gross Scheduled Income: | $867,468 |
| Heating: | Central |
| Levels: | One |
| Listing Contract Date: | 2026-10-12 |
| Lot Features: | TwentySixToThirtyUnitsAcre, CornerLot |
| Lot Size Area: | 45738.0 |
| Lot Size Source: | Assessor |
| Net Operating Income: | $545,991 |
| Number Of Separate Electric Meters: | 27 |
| Number Of Separate Water Meters: | 1 |
| Property Attached?: | Yes |
| Rent Control?: | Yes |
| State Or Province: | CA |
| Stories: | 1 |
| Trash Expense: | $27,696 |
| Utilities: | ElectricityAvailable |
| View: | Canyon |
| Property Sub Type Additional: | Apartment |
| Country Subdivision: | 06073 |
| Universal Parcel Id: | urn:reso:upi:2.0:US:06073:4314100800 |
| List Price: | $8,975,000 |
|---|---|
| Property Sub Type: | Apartment |
| Lot Size Square Feet: | 45,738.0 |
| City: | San Diego |
| County Or Parish: | San Diego |
| Postal Code: | 92111 |
| Number Of Units Total: | 27 |
| Building Area Total: | 22950.0 |
| Common Interest: | None |
| Community Features: | Biking, DogPark, Golf, Sidewalks |
| Directions: | Corner of Kelly St and Drescher St |
| Elevation Units: | Feet |
| Entry Location: | 1 |
| Garage Spaces: | 0.0 |
| Gross Income: | $867,468 |
| Heating?: | Yes |
| Insurance Expense: | $16,200 |
| Laundry Features: | CommonArea |
| Listing Agreement: | ExclusiveRightToSell |
| Listing Terms: | Cash, CashToNewLoan, Conventional, Exchange1031, FannieMae, FreddieMac |
| Lot Size Acres: | 1.05 |
| Lot Size Units: | SquareFeet |
| MLS Area Major: | 92111 - Linda Vista |
| Number Of Buildings: | 5 |
| Number Of Separate Gas Meters: | 27 |
| Operating Expense: | $280,876 |
| Original List Price: | $8,975,000 |
| Parcel Number: | 4314100800 |
| Pool Features: | None |
| Postal City: | SAN DIEGO |
| Professional Management Expense: | $43,373 |
| Sewer: | PublicSewer |
| Special Listing Conditions: | Standard |
| Stories Total: | 1 |
| View?: | Yes |
| Water Sewer Expense: | $17,832 |
| Year Built Source: | Assessor |
| Current Price: | $8,975,000.00 |
| Record Signature: | -625,386,041 |
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Based on information from California Regional Multiple Listing Service, Inc. as of October 13, 2026. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
California Regional Multiple Listing Service, Inc. data last updated on October 13, 2026 01:34 AM - PT
Property Last Updated: October 13, 2026 01:34 AM - PT
