I stayed here for four weeks while in Melbourne for work, This apartment is well set up and very comfortable - it was easy to cook, do laundry etc. The bed and sofa were comfy, and the space itself is nice and light and big.
The location is amazing - right out the door to Lygon St (you are right near Readings, Cinema Nova, DOC etc). And from here you can walk into the city in 25 mins or so. The location does mean, as others have said, that it is not super quiet at night - especially on the weekend (but that did not bother me at all - it is the location tradeoff - you just might want to bring earplugs).
Thanks for a lovely stay.