Niko's place is in a good location if you like to walk and explorer, and check out more local areas than touristy ones, but still close enough to the touristy areas that you can easily walk or hop on the metro or a tram (I didn't brave the bus but the stop is right across the street.)
It was nice after a long day of "touristing" to sit on the patio, put my feet up, drink a beer and watch people go by below.