A large apartment in an excellent location if you are wanting to stay in Melbourne. It is located right on the #96 tram route, which is probably the best in the city since it connects Fitzroy, the CBD and St Kilda. However the apartment is located well back from the road, so is very quiet.
The host is very helpful and pro-active and there is an under-cover car park. Apartment is clean and rooms are spacious. There is Netflix and Wifi.
On the negative side, the biggest drawback is that it is on the second floor, up four flights of stairs, which is a problem if you have heavy luggage, small children or a disability. The ensuite bathroom is tiny and overall the decor is 1990's and a little bit tired. I suppose though $300+ per night seems a lot for this apartment, but it reflects that AirBNB is getting more an more expensive compared to the alternatives. Also it would be nice to have more of the basics to cook with. It seems that the second "B" in AirBNB has been completely forgotten by most hosts (although we were left a nice bowl of fruit).
Overall a good option for Melbourne, a great host and a clean and practical, if expensive option if you need all three bedrooms, a great location and don't mind the stairs.