I can totally recommend the location, you are in 15-20 min walking distance to Prag 1, but also the tram stop Bertramka is very near if you don't want to walk that much. The apartment itself has everything you need and is very cozy - if you happen to travel by car there are also some relatively cheap parking spots in front of the door.
Summing up - i'd definitely stay there again if I happened to come back to Prague.