It suited me perfectly as someone who was looking for cheap stay for 2-3 weeks while I sorted out long term accommodation. I think it worked out at 50euros a night, which you'd be very hard pressed to find a similarly priced single contained unit in Melbourne city centre.
Great location close to Queen Vic market but it was quiet at night as well.
Good internet speed incase you need to do some work.
Nash was very communicative as well.
It's a cheap and cheerful place though, so have that in mind. Perfectly adequate, and nicer than the photos suggest.
Overall, would recommend.