I highly recommend Nic's place. I stayed here for a few months as I transitioned back home overseas and I very much enjoyed my stay. You will experience a quiet, clean, and superbly organized (and spacious!) oasis in Melbourne. If you have a bike, you will not only enjoy Merri Creek park, but also a quick commute to either the train or the 86 tram. Walking to either takes a bit more time, but there is also a bus to and from Melbourne Uni just 5 minutes away that I took regularly. Clifton Hill is a special corner of Melbourne's inner North, and Nic's place is an excellent way to explore it and the city.