The ground floor was redesigned for retail units, while the upper floors were converted into modern, open-concept office spaces.Modern Amenities: Introduced features like energy-efficient lighting, upgraded HVAC systems, and high-speed internet infrastructure.Aesthetic Upgrade: Refreshed the façade with contemporary materials while preserving historical elements to maintain its character.OutcomesIncreased Occupancy: The property went from 40% to 95% occupancy within six months of renovation.Higher Rental Rates: Upgraded spaces commanded rental rates 30% higher than before.Enhanced Property Value: The property's appraised value increased by 50% post-renovation.Investor's ROIBy investing in smart architectural design, the investor not only revitalized a neglected property but also significantly boosted their ROI through higher rental income and property appreciation.

Perhaps you have coverage for the replacement value BUT the insurance company when calculating the replacement property uses modern building materials like drywall but your original house had plaster which is much more expensive.

I did put in about 15k of work into the place to get it from the 1980's look to something more modern as the rentals I am competing against are newer builds, but at higher price points. 

On the tenant side I replaced the breaker panel to a modern one and fully repainted the unit.

Yet, you have to adapt those ideas to the modern world!

I don't know what your space or design concept looks like but for a 1 bedroom beach condo I would choose something like this: https://nathanjames.com/products/modern-upholstered-3-seat-w...

Quote from @Victor Yang: If I gift a house, what amount will go towards the lifetime gift limit, the amount i purchased the house for, or the current FMV?

I took all the old charm and kept everything I could, updated everything for a modern family!

Rent goats to clear woods and create romantic lit walking pathRefinish floorsAdd modern master bathroomNew deck and firepit hangout area with hot tub and outside barand....STYLE!

Landscaping, exterior paint, and a new front door can boost value.Flooring & Paint – Fresh paint and updated flooring can modernize a space quickly and affordably.If you have specific questions, feel free to ask—I’m happy to help however I can.