We stayed at South Yarra studios for 5 days and it was wonderful. The studio was just as described and had everything we needed for our stay. The host was very quick to reply to any queries we had and was very welcoming.
The studio is perfectly situated on Chapel Street with an incredible amount of restaurants, cafes, bars and boutiques all within 10 minute walking distance in any direction. We were always overwhelmed by choice. The street was very lively but never rowdy.
Getting to the city is very simple with the tram station being just 70 m from the studio and with trams coming every 10 minutes or so from early in the day to late at night.
Would recommend this to anyone looking to stay in Melbourne. :)