Pros: Very close to everything there is to see in Palermo; the house has everything you may need during your stay.
Cons: The rooms face a really loud street (music going until after 2AM) and you can hear it even with the windows closed making it hard to fall asleep; the apartment is on the 4th floor and the stairs are quite narrow.
Overall I think the cons are priced in but would avoid if planning on going to bed early and/or if any of the guests have trouble walking up 4+ flights of narrow stairs