How to fix such a terrible basement in an old house?

[Lei L.]

This is an old house (Indianapolis area) built in 1930. The basement looks really ugly to me. It's a partial basement. As a newbie, I don't know how these old basements are built. I only saw the concrete basement before. What's the material of this basement? How to fix it? Any name of the material of such an old basement so that I can google it? Do you see any costly structure issue? The house will be used for mid-low end rental. Any advice and suggestions are appreciated. Thanks.

BTW: Do I have to attach/upload pictures one by one? It seems that I can't upload them all together.