The location is great. It's close to central station (15 minute walk or 10 minute bus ride). It's two small blocks away from a grocery store, one of the best breakfast cafes in town literally downstairs (Bakers and Roasters), and a number of restaurants within a short block. It's a quiet area, away from the main tourist drag. We did hear the other family staying in the building like they were walking up the stairs to our unit, but that only happened when they came back.
The property description is accurate. It's up a very steep flight of stairs to the apartment door, then another steep flight to the unit. There's an additional set of steep stairs to the upper floor.
The sleeping arrangement for our group (three adults and 2 young kids) worked out very well. The upstairs beds were uncomfortable.
With the lower floor room being a bedroom, the kitchen table is the only place that is common area.
The bathroom seems newly renovated and is very spacious and nice. There isn't a bathroom upstairs, so getting up in the middle of the night to go down the steep stairs to the bathroom took some getting used to.
Overall it was a great place. The steep stairs with little kids and uncomfortable beds were the worst parts, but outweighed by the location.