Cultural value and heritage have been identified as necessary for a sustainable living environment, alongside environmental concern and energy efficiency. In this study, multiple methods, i.e., life cycle assessment, payback, and questionnaires and interviews with tenants, and empirical data from a recent energy renovation of a multi-residential pre-war building with wooden construction were used to analyse the impact of the renovation on cultural and aesthetic values, environmental impact, financial payback time, and user satisfaction. In the energy renovation, the façade, which had been disfigured in an earlier renovation, was recreated to resemble the original architecture. The main questions are: What impact has the recreation of the façade on the environmental payback time in comparison to a more conventional renovation? What are the consequences for the user satisfaction and financial return on investment? The results show that the recreated façade has improved the building’s aesthetics without compromising the environmental benefits. It also resulted in better thermal comfort, which is highly valued by the tenants. The improved aesthetics are also appreciated by the tenants, but to a lesser extent. Financially, the renovation is estimated to be not viable. Results of this study can be applied in the decision-making of similar renovation projects.