Excellent location -- close to the parts of Venice I enjoyed most, which is synonymous with being far enough from the throngs of people milling around souvenir stands. (There's also the added bonus of being right next to a cool bar with an excellent beer selection.)
The apartment itself was fine, albeit small. The bed wasn't especially comfortable, and while we were there the wifi wasn't working, which was a temporary issue, but still a minor drag for travelers who rely on the internet to make decisions about what to do and where to go.