Who makes that heat pump, and what are the dimensions?
The labeled SEER & HSPF efficiency of a new unit isn't necessarily going to be much higher than what's there (I'm not sure there are modulating variable refrigerant volume variants), but sizing it correctly for the actual loads can make a difference in as-used efficiency.
The heating & cooling loads of townhouses & apartments is usually pretty low (except for the end units on the top floor), but most developers use a "one size fits all" approach to the heat pumps, and oversize even for the highest load unit, making it ridiculously oversized for the average condo unit.