My family and I had the please if staying at Alex and Joe's place for 2 nights recently.
The house was nicer than we had anticipated. It was spacious, modern, had comfortable beds and generally a really great place to relax.
It isnt on a beach or bay in Rosebud but the water is still close, only a few mins drive down to Port Phillip Bay at Rosebud. It's on a quiet residential street.
The house also had a lovely outdoor area with a bbq and an outdoor spa/hot tub which was great.
We really loved it here and would happily go back.