Hauser

Hauser is a legacy asset located near Salt Lake City’s 9th and 9th neighborhood, one of the city’s most desirable areas. We negotiated approximately a 10% discount to the purchase price and identified meaningful value-add potential in a location capable of supporting strong rents, even without a low cost basis.

At acquisition, units lacked core modern amenities, including air conditioning, heating systems, dishwashers, and in-unit laundry. We completed a comprehensive interior renovation, preserving the original solid wood cabinetry while upgrading kitchens and bathrooms and installing mini-split heating and cooling systems, in-unit washer/dryer heat pump combinations, and dishwashers. Exterior work maintained the building’s character while addressing key improvements, including new fencing, concrete repairs, and xeriscaping.

Operational upgrades included providing property-wide internet service and implementing utility reimbursements. We installed a solar system and secured the associated tax credit, partnered with Rocky Mountain Power to recover approximately 30% of mini-split installation costs through energy-efficiency rebates, and obtained rebates from Utah Water Savers covering roughly 15% of xeriscaping expenses. The repositioning resulted in approximately 25% revenue growth while maintaining disciplined operating costs.