Nuns moved into the Olive Street address, which is the subject of an expressions of interest sale process being conducted by Albury-based agents Chapman, Gould & May, in 1993 when they moved across the road from the convent of St Brigid, which was opened in 1870 at a cost of five thousand pounds.

The Sisters of Mercy celebrated 150 years in Albury last year with commemorative activities including a liturgy in the former Sisters of Mercy Chapel, a historical exhibition of Slattery Catholic Centre and mass at St Patrick's church.

They arrived from Goulburn in 1868 to set up a girls' school.

The chapel, also located in Olive Street and built in 1879, returned to use in 2013 following a $50,000 facelift.

The residences sit on a 1340-square-metre site located behind the former Christian Brother College building on the corner of Smollett and Olive Street which has been converted to the headquarters of legal firm, Harris Lieberman.

"It's a great investment opportunity," agent Grahame Gould said.

"The property is all on one title and a 1340-square-metre block in central Albury presents a myriad of opportunities."

The block is zoned mixed use.

The original home, which fronts Olive Street, has many original features including high timber ceilings and lead light windows, five bedrooms, two bathrooms and open kitchen and living area.

Two other residences on the block have four bedrooms and open plan kitchen and living areas.

The smallest building is a one bedroom unit.

Two houses originally on the site had to be demolished for the convent's creation.

Expressions of interest close on December 12 with the site located closeby the Findex Group office building which is for sale and also originally owned by the Catholic Church.

The Smollett Street property was part of the St Patrick's Parish school site before being replaced by the single storey office.