My friend and I loved this place. It's about a mile from the Cathedral, to give you a sense of its proximity to interesting attractions. On the map it had seemed further, but it ended up being just removed enough from tourists to be enjoyable, while we were easily able to get into the central city. I found the area around it to be safe to walk in, even late at night, and there were great bars just a few blocks away.
The only drawback we experienced is if you are a light sleeper who wakes up with noise, other residents do occasionally seem to depart at odd times overnight, and the noises they make when they leave are loud enough to wake you up. It's something to be aware of if you sleep lightly.