This is a very great location especially if you want to photograph the bridge at any time of the day or view the Prague Castle and St. Nicholas Church from your window. It is just beside the bridge and everything is accessible. Great restaurants like Bohemia Bagel, Lokal (great beer) and Kampa Park (great view of the bridge). Public transportation although most tourist attractions are accessible by walking (I only took the funicular up to Petrin hill). Grocery just below where you can buy something to cook or bring home like Fidorka or Lazenske Oplatky.
Another great thing about my stay was Danilo's hospitality. Although I arrived two hours early due to my typo error on time of arrival, he was very accommodating and showed me around the area so I can spend one hour while he is preparing the place. He helped me with my luggage and there were some goodies like beer, croissant, milk, yogurt, and apples.
I will definitely go back to his place if I visit Prague and highly recommend it to friends and family.