In design, it was similar to the Cierva and Pitcairn autogyros of the day; an airplane-like fuselage with a nose-mounted engine, surmounted by a rotor mast.

Like some of Cierva's designs, the K-2 also featured stubby fixed wings for additional lift, also as a mount for ailerons for lateral control.

[1] Kellett built a batch of 12 K-2s, and the type was evaluated by the United States Army as a slow-flying reconnaissance machine to observe enemy troop movements.

A K-2 (c/n 2, originally registered NC10767) was discovered derelict in a barn and restored to flying condition by Al Letcher of Mojave in 2002.

This machine had been used in the Army evaluation of 1931, and in 2008 is displayed at the National Museum of the United States Air Force.