The place is very nicely located on the hill. It's about 10 minutes up the stairs by foot (the funicular is also available). In return you get an amazing view over the city, harbor and Vesuvius from the terrace.
The apartment is very interesting and spacious. The room is cozy and has a private bathroom. Great value for money! A tea kettle and guidebooks were very nice touches.
And you wouldn't need to set an alarm in the morning – the seagulls will wake you :)