We loved our stay! We stayed for just over a week as my husband was in Melbourne for work. The space worked very well for us - our 3 month old was with us and we were able to set up the port-a-cot in living room without being too much in the way. I could 'park' the pram downstairs just inside the front door of the building without getting in residents way. The apartment was beautifully decorated and very bright with lots of windows - so for days when I couldn't get out, I was very comfortable.
The apartment was close to all the great restaurants and shops - and an ice-cream shop called Jock's that I am so glad I only discovered in the last few days... ha. The 1 tram is a very short walk away, but because I had the pram, I found walking up to the 96 (about 15 min walk and with easy pram access) better for me - I liked that there were options! The beach is also a short stroll away.
Highly recommended if you would like to stay in a quiet, beautiful area of Melbourne - close to the city, but not IN the city.