The six-bedroom, five-bathroom house at 22 York Street is nestled between Windmill Hill and City Park among some of the city's most historic properties.

The nearby 1824-era Sunnybank (15 Brisbane Street) is believed to be Launceston's oldest property, while neighbouring Sotherton (15A) was built in the 1930s for Dr Clifford Craig.

Another 1840s home is for sale at 6 York Street, and the Florance Hotel (17 Brisbane Street) and Glenfruin (1 Brisbane Street) both date back to the turn of the 20th century.

Glenfruin was listed for about $3.5 million last year before selling for an undisclosed price.

A price guide has not been disclosed for the 1850s-built 22 York Street, which looks out over the CBD and terraced gardens, a tennis court and croquet lawn.

"This house, as our home, is all we know," a family representative said.

"It is quite amazing to think of all the years our family has been here, and that five generations - from our grandparents to our grandchildren - have been a part of this home."

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Redesigned and extended over the past century, the home combines beautiful staircases, wide hallways and high ceilings - particularly in the main level family room.

The lower level takes in a similarly spectacular music room and opens out onto the verandah and gardens.

The property is being sold in a cluster of three titles including a four-bedroom home at 17A Brisbane Street, and a vacant plot adjoining 22 York Street.

The three titles span more than 6000 square metres and are for sale individually or as a group.

"[We have] such wonderful memories of being here with our parents and siblings, music being played, every space in the house and garden being used," the family representative said.

"We hope this wonderful house and garden will be loved by another family or that someone finds an exciting new use for this amazing property."

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The three titles are selling via an expressions of interest campaign closing October 5.

Roberts Real Estate's Michael Walsh and Jess Christmas said finding a comparable property in Launceston was "virtually impossible".

"It's a once in 100-year opportunity to buy a property like this, so we're not surprised that we're getting interest from all around the country," Mr Walsh said.

The home has attracted interest both as a home and a development site.

"That's one of the fascinating parts of this property - it's been a residential property all its life," Mr Walsh said.

"But the push towards inner-city living ... it could potentially be someone who develops the vacant land there into residential, or it could be someone who wants a substantial home with a stack of privacy."

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