I spent a long weekend here and I really liked it.
Location: it's very close to Brunswick Street (Fitzroy) and the dozens and dozens of cafes and restaurants and retail stores and scene there. It's a short walk to Melbourne's CBD and right opposite the gorgeous Carlton Gardens (a big park). The tram stops right across the street too, taking you through the CBD and on to St Kilda beach (in one direction).
The space: it's very simply decorated but in a way that was cozy, not cold. Some highlights were: the VERY comfortable bed with EXTRA pillows -- too often this is overlooked but six pillows here meant I could lie comfortably propped up in bed, watching the TV (netflix, Stan) or looking out the huge window into the leafy courtyard. The courtyard is surprisingly big and there's an outdoor table where I enjoyed my tea in the morning and wine in the evening. Also, the sheets were so starched and clean and felt like hotel sheets, a detail I loved. There was enuogh storage space in the closet plus little storage drawers so I didn't have to leave all my stuff lying around. The bathroom shower had great pressure and there's even a body wash/shampoo dispenser there for you, AND a washing machine! Had everything I needed.
The kitchen is small but not pokey.
All in all, this is a cosy affordable Airbnb that I was very comfortable in each night and didn't mind spending the day there one of the days it was raining.