Enclosed Porch - Adding Living Sq Footage

[Brendon Bourne]

Hello. Have a rather specific situation.

I am closing on a 3 family unit and received a large credit from the seller for rehab. I am looking for ways to reinvest the money into the property.

The property is older and about 2600 sq feet and has an enclosed porch on the 1st and 2nd floors that are in common area spaces. The enclosed porches are not considered living area sq footage due to improper insulation and heating but are sizable totaling almost 400sq feet total. Questions regarding this?

Is it possible to convert the enclosed porches into living area sq footage?

Would this be a worthwhile investment if expenses are reasonable?

Any advice from anyone who has something similar.

Photo attached.