Great location with some drawbacks that shouldn't bother you for the convenience. The location is close to both Shibuya and Ebisu stations and literally on what is considered by transport buffs as the world's most important and busy train line; the JR Yamanote.
The Yamanote line is perfect for getting around Tokyo. So this location is perfect as it's right on the line. Only catch is that it is right on the line. This means that you can hear the trains at night, although this is very easily solved with provided ear plugs.
I thought it would be a problem, but it ended up not being one. The apartment is very typical for Tokyo; small but comfortable. You have have everything you need (and more), and the apartment is very easy to enter and leave.
For leaving and seeing Tokyo, Ebisu is probably the best station to use as it's easier from the apartment. The back streets of the area are also very cool and have interesting places to eat and drink with far less craziness than Shibuya proper