This is a super stylish, great place which can't be beaten given the price. The building is old, which you need to take into account, and all rooms are different but all the airbnb rooms are very stylish and well decorated. The rooms are on the small side but are perfectly big enough. This room didn't have much storage space - others do. It wasn't an issue for me but it's something to be aware of. There is a coffee maker and fridge, which I found useful. There is no free parking, which is to be expected in this very central location, but there is paid parking both on and off site available. The hosts are super friendly and helpful and there is always someone on duty at reception as the place has other hotel rooms.
Having lived in Toronto for over 2 years (was staying here just before returning to the UK) I can confirm that the location is great and is perfectly safe. There is a lovely park to the north and Yonge Street with all it's shops and restaurants is just a few minutes walk away.
Every big city has a homelessness problems and whole airbnb apartments that are taken out of the housing market for locals just contribute to that problem - by staying here you are doing the right thing.