Amazing neighbourhood, very nice hosts, very spacious apartment. There are plenty of shops nearby, great places to have a drink or eat. Highly recommended if you are visiting the Australian Open- it is close, with the bus 15 minutes, by foot 25-30 minutes (visit the AO if you are there by this time- it is awesome).
Within 5-10 minutes walking you can reach the tram or the South Yarra train station. On top easy communication, check-in and check-out.