The location of the apartment does not disappoint: it really is around the corner from some of the major sights in Venice. As you sit in the apartment, you will hear gondolas passing through and accordions playing on the canals literally below the living area windows (note: the flip side of this is that the quiet will be interrupted during the night sometimes by the boats and late night partiers, however, that is precisely part of what gives the apartment a local feel / experience). From here, you can stroll down to the water and take in amazing views, or begin the pleasant, labyrinthine journey into the heart of the city, and eventually into the lesser known residential districts on the north end of the city.
As good as the location is, it is matched by the quality of the hosts, Andrea & Piero. The restaurant suggestions they made were all great. Andrea is available, for a fee separately from the apartment accommodations, of course, to provide a 3-hour tour of the city that is incredibly interesting, and hilarious, at the same time. Andrea has a sense of humor that has me smiling as I think of some of his banter (in a charming and heavily Italian-accented English) about the city, social commentary, and history/folklore.
I recommend this destination, as well as these hosts.