What makes this an awesome place to stay is the location - it is located just above a bar/coffee shop that is full of great staff and reasonable prices. We went to this bar/coffee shop every night we stayed, spoke with the staff, and there were a lot of locals here throughout the day.
As far as the apartment, it is as advertised. The apartment is perfect for two people and we actually found the sofa bed to be extremely comfortable! Washer worked well and we used the clothes line off the balcony. The apartment was easy to find and easy to walk to from the train station or the piazzale roma. The only minor hiccup was that the shower is a bit difficult to use without having it leak into the common area - but it was not a big problem for us at all.
Overall, this was the perfect place to stay in Venice!