The apartment is on Santo Spirito Piazza, a lively neighbourhood with good restaurants. We liked the action, one night a charity fund raiser hosted by one of the restaurants, another night a folk dance group, another night a pop rock group busked on the steps of Santo Spirito Bascilica until midnight followed by a musical event in the square. These were noisy and we enjoyed watching and listening from the balcony. We also used ear plugs to sleep.
Out the street door and to the left are a great bakery and meat shop. The Piazza hosts a daily market where you can get fruit and vegetables if you are so inclined.
Don't miss visiting the Santo Spirito Bascilica to see Michelangelo's sculpture "Crucifix".
The apartment itself is pretty plain. We experienced the same sewer smell reported by other guests and it took away from the total experience.
The walk up the stairs doesn't get any easier, but it wears off all the gelato that is so tempting.
The balcony, as others have noted, is the real attraction.