We stayed at Elena’s place for 4 weeks. It’s a 1 minute walk to tram stops for the 1 and 10. It’s a 5 minute walk to the 19 tram (which goes right into the center of downtown). Right next to that 19 tram is a Carrefour, so groceries and transit are sorted! There were a lot of good restaurants nearby, but we especially liked Slice (for tasty, cheap, and quick Pizza), Pampas (Brazilian steakhouse), and - a bit of a longer walk but an absolute MUST visit: I Sapori della Pasta.
Very typical apartment noises, nothing that will ruin your trip over. Maybe once a week there'd be some hammering and there's a train line right behind the apartment, but it's very sunken so the sound is extremely muffled. No street noises really. I'm a pretty light sleeper and 90% of my sleeps were completely uninterrupted.
Hot water gets cold after about 10 minutes of use, so - if you have 3 or more people - you'll want to stagger showers.