Very Central, right opposite Flinders Train Station, but I didn't really hear the trains. Also right next to a Coles and Woolies so food shopping is easy. The apart was clean and tidy, and spacious enough for my needs.
Only downside, which didn't bother a friend that stayed with me one night, was the outside extractor fan from the restaurants downstairs were a bit noisy for me, and the walls are a little thin, but that's probably just a personal preference. The noise is no fault of the apartment owners.