Good for a short stay, but wouldn't recommend for more than a couple of days.
Only because reviews should be fair and truthful:
As expected, the traffic noise is quite loud when doors are open. Unfortunately, there are also traffic fumes :/ which can be mostly extracted using the air conditioner which is also quite loud. If the noise and fumes don't bother you then this location is good as it's walking distance from bars, restaurants and shops (Cape Quarter Lifestyle Village) or a quick drive (the safer option) to the V&A Waterfront.