Basement Renovation for Maximum Refinance??

[Ty Thomas]

I bought a duplex in Southwest Philly/Eastwick (near the airport) for too much in 2018 and put a substantial amount of money into it. I've realized the errors I made and am now ready to refinance. I'm hoping to recoup as much as possible. Now for the question...

The basement is such that it can be made into a very functional space for an efficiency or just a nice laundry and rec room. Should I renovate the basement before I refinance or just leave it as is?

Anyone know a good contractor who can make my basement functional? (bathroom, new drywall, electric, maybe a small kitchenette install, etc. needed)??

Note: Plenty of updated houses in the area with finished basements. I believe the value could potentially be increased $20k-$30k by doing so.