The place was perfect for 3 people, walking to the Navigli took about 20 minutes in total, but one could take the tram, so this was our choice. The gelateria "Gelateria della Musica" round the corner was great.
The bar next door was a bit loud, but if you close the window you can barely hear it, just good to bear in mind if you want to sleep with the windows open at the weekend.