You can get two Toronto multi-unit houses for only $3.5 million

Back in 2013, two semi-detached houses in Toronto's Yonge and Eglinton neighbourhood hit the market for $1,399,000.

The properties at 159 and 163 Briar Hill Ave. had been owned by the same person for approximately 50 years and were being marketed as an investment opportunity. At the time, the listing described the properties as a legal triplex with five apartments, but they were being sold in "as-is" condition.

Still, that didn't seem to deter buyers. After just 11 days on the market, the two houses sold for $1.8 million, a whopping $401,000 over asking.

The living room in one of the upstairs units. 

Fast-forward 13 years, and the two houses are back on the market, only this time they're asking almost double what they last sold for.

A renovated kitchen in one of the upstairs units. 

Currently listed for $3,495,000, the two adjoining properties have undergone quite the transformation.

Another renovated kitchen. 

Gone are the dated investment properties of 2013, and in their place are four fully renovated apartments spread across more than 3,900 square feet of above-ground living space.

An open-concept living and dining room. 

And while $3.5 million is hardly pocket change, that works out to just under $1.75 million per house, which, by Toronto real estate standards, isn't completely outrageous.

A bedroom in one of the upstairs units. 

The two houses are practically mirror images of each other.

The rooftop deck at 159 Briar Hill Ave. 

At 159 Briar Hill Ave., the main floor features a 570-square-foot, one-bedroom apartment, while the second and third floors have been converted into a spacious 1,375-square-foot, two-bedroom suite with its own private rooftop deck.

A bedroom with an ensuite. 

Next door at 163 Briar Hill Ave., there's a slightly larger 590-square-foot, one-bedroom apartment on the main floor and a 1,370-square-foot, two-bedroom suite upstairs, also with a rooftop deck.

The open-concept living, kitchen and dining area. 

All four apartments have been renovated with modern finishes and updated kitchens and bathrooms.

An ensuite laundry room off the kitchen. 

The two upper-level units also have ensuite laundry, while the main-floor apartments share laundry facilities in the basement.

The backyard outdoor kitchen, BBQ and seating area. 

And there's even a backyard with an outdoor kitchen, BBQ and seating area, plus rear parking for up to four cars.

A dining room. 

Of course, the real appeal here is the rental income.

The kitchen of the main-floor apartment at 159 Briar Hill Ave. 

The properties are partially tenanted, and the main-floor apartment at 159 Briar Hill Ave. is currently being advertised for rent at $1,995 per month.

The living room of the main-floor apartment at 159 Briar Hill Ave. 

That gets you a renovated one-bedroom apartment with stainless steel appliances, a private back deck, access to the shared backyard and one parking spot.

A bedroom with an ensuite and access to a patio. 

Not a bad alternative to condo living, especially considering you're just steps from Yonge and Eglinton.

The dining room in an upstairs unit. 

And while the current listing doesn't disclose the total monthly rental income, there's certainly potential to make some decent money from four apartments in this neighbourhood.

Another bedroom in an upstairs unit. 

There's also the possibility of adding even more units.

A newly renovated bathroom. 

The two properties sit on a combined 46-by-131.5-foot lot, and according to the listing, there's potential to add basement apartments or even a garden suite, subject to the necessary approvals.

The main-floor apartment at 159 Briar Hill Ave. 

Interestingly, the 2013 listing also pitched the properties as a redevelopment opportunity, suggesting buyers could build two new homes or create one large single-family residence.

A bedroom. 

So, more than a decade later, the selling point hasn't really changed all that much.

The outdoor kitchen. 

You're still getting two houses on a sizeable piece of land in one of Toronto's more desirable neighbourhoods, with plenty of possibilities for what to do with them.

A bedroom. 

The only difference is that now they're renovated, generating rental income and cost almost $1.7 million more.

Parking and the back of the houses. 

But hey, at least you're getting two houses for the price of one Toronto mansion.