Let start by saying that the place is really big and will accommodate multiple people. It's a minute or 2 near some tasty restaurants and take out places. Walking distance to Marco's square.
As it's Venice there are stairs everywhere, so if u don't take a private water taxi ($$) and chose to take the public water bus system then you have to Pack light as u will go up/down 3 venitian stairs and a few steps before getting to the house.