Literally across the street from the central station. 2 mins walk!
And if you walk straight along the street for about 15-20mins, you'll reach Piazza Maggiore! So I really loved the location.
When I visited Bologna in late December it was really cold, so I was so grateful to have such a good centrally heated room. Seriously the heating is amazing! And the flannel bedsheets keep you extra warm. Plus you get a beautiful private bathroom (if there's no other guest staying in the room). And there's a lift up to the apartment - which is like phenomenal for Italy I feel where usually you just have to befriend never-ending stacks of stairs.