Very comfortable, modern apartment in South Yarra. Hosts have excellent, detailed instructions and information. We found that especially helpful as we were entirely new to the area.
It's a solid 30 or so minute walk/public transport away from Melbourne CBD and many popular tourist locations, but we found the Yarra district to be very nice to walk through and flush with shops and restaurants and the public transport to be very efficient and reasonably priced (compared to several other cities we've visited).
If you're a tourist from abroad like we were and don't mind the distance from CBD that I indicated above, this apartment has tremendous value.