Yes, this is done. There were even canons (prior to the 1917 code) for how this was set up. In the current canon law, it is called an Oratory, but home chapels or small neighborhood chapels are very common in the Old World (My mother visited Montreal in the early 1990s, and said Montreal was very much like this as well) If this is going to happen regularly at a home, you will need a designated area that is walled off with some sort of barrier or even curtain, at least two icons (one of Our Lord, and the other of Our Lady) on the barrier. Inside the barrier, you will need two tables-one in the center of the area, the other smaller and to the north of the first. The rest of the things you will need the priest will bring or tell you to keep on hand. These will be the chalice set (which is six pieces), a couple of cloths dedicated solely for the Eucharist (red or white), a Gospel book, a candle, and a cloth called antimens (this is last item is required for the celebration of the Divine Liturgy, as it is the authorization from the bishop for the Mysteries to be celebrated). An Epistle book and book with the propers are good to have. Everything else is a nice to have, but this set up will get the Divine Liturgy and other services going quite well. This set up can be taken to another space, or left in a dedicated room in someone's house. Also, some folks have turned a garden shed (12x16 works excellently) into a chapel with great effect.
