What would you do to create a kitchen space in this area?

[William Cook]

Hey everyone, recently acquired an investment property with a mother in law basement setup. There is a space for a kitchen but it has a strange set back wall with a sink. I have a few ideas on designing a kitchen layout but wondering what other ideas are out there? 

Notes: 
-Carpeting will be replaced with LVP throughout 
-Wood paneling will either be removed or painted over (filling in gaps, sanding, etc) 
-Considering closing off the sunken in space to make the wall flush? 
-This will be turned into an airbnb rental so it doesn't need a ton or storage/spacious 
-Looking for layout ideas rather than finishes

Kitchen areaOne rough sketch idea If your back were facing the sink area. Corner could be used as storage space

[Malcomb Stapel]

@William Cook the obvious place for the new sink is where the old one is (plumbing is already there and will save you a ton of hassle in a basement). The inset is a little strange. You could consider removing the mirror and making some sort of panel feature both where the mirror was, and the two walls that run parallel to it. Rather than concealing it, make a bold feature out of it. 

Another thought; but it's hard to tell from how far away you took the photos, is to remove the paneling and stud wall to the immediate right of the inset, then hook your counters back along that long wall, essentially turning it into an L. However, this may not be possible as that might be right where the concrete T's in to reinforce the long basement wall. You could poke and inspection hole and see if that's the case.