This area is surprisingly quiet, even during Oktoberfest when the city is packed with tourists. There are plenty of restaurants nearby to choose from as well. Frank was a great host, he provided maps and restaurant recommendations and detailed information about Oktoberfest and which places were best to visit at which time. With that we were able to plan our visit around the occasional rain storm and not get stuck waiting in lines.
We were perfectly comfortable staying here with four people, it never felt too crowded. Plenty of amenities were provided so we never had to go buy anything we needed. It was about a 6-10 minute walk to the nearest underground station and the area is very pleasant to walk through.
All in all, I recommend it!