We present results on the K * (892) + production in proton-proton collisions at a beam energy of E = 3.5 GeV, which is hitherto the lowest energy at which this mesonic resonance has been observed in nucleon-nucleon reactions. The data are interpreted within a two-channel model that includes the 3-body production of K * (892) + associated with the Λ-or Σ-hyperon. The relative contributions of both channels are estimated. Besides the total cross section σ(p + p → K * (892) + + X) = 9.5 ± 0.9 +1.1 −0.9 ± 0.7 µb, that adds a new data point to the excitation function of the K * (892) + production in the region of low excess energy, transverse momenta and angular spectra are extracted and compared with the predictions of the two-channel model. The spin characteristics of K * (892) + are discussed as well in terms of the spin-alignment.