Fantastic location! For those familiar with southern California, I'd compare this area to a family-friendly West Hollywood where the restaurants, bars, and piazzas are filled with people until 1am every night of the week.
During our stay there was a summer movie festival going on in the piazza across the street. The piazza also hosted a morning farmers market with amazing produce, and there are literally dozens of restaurants and bars within 5 minutes.
Downstairs there were 3 restaurants, and one is a pastry, gelato, and coffee shop so we were there twice a day for our morning espresso and nightly dessert.
You can't beat the location, but note that this is 4 flights up with a small lift. If you don't like stairs or tiny lifts, you may want to reconsider.
We walked to the major attractions in 20 minutes. We don't speak Italian and were able to get by just fine.