The location of Hout Bay and the apartment is perfect for a stay in the cape area as it is located so central between Cape Town and the cape region. Everything (Waterfront, Table Mountain, Lions Head, Constantia, Nordhook, Cape of Good Hope, Muizenberg, etc. is within 20-40 minutes drive and great restaurants, coffeeshop and shopping center, the beach is within walking distance. You can even go for a run along Chapman's Peak drive, which is really spectacular.
The apartment itself is good for 2-4 people, has a small pool (which we never used, because we were always someplace else ;-), a kitchen and is the perfect place for a nice holiday with your partner or even with your two kids. I wouldn't recommend it for 2 adult couples as one bedroom is open space and has no door.