This is a great location from which to explore Prague. The trams are close and cheap and they get you into the tourist area quickly and without any fuss. Importantly the tram also gets you out of the tourist hustle and bustle as well.
Plenty of options in the local area for dining and beers without being surrounded by tourists. You might be picking up that despite being one, I’m not fond of tourists. There are bars and restaurants up and down every block around the apartment. There is also no end of shops within a stones throw where you can get ‘supplies’.