This was one of the most pleasantly surprising places i have stayed in all my time away. It is a private self-contained apartment, situated inside another apartment. You have a large bedroom, a small living room, with kitchen space, sofa and flat-screen tv, and a small bathroom (which an amazing shower!). It even has a washing machine and space to hang your clothes - which seem to dry really quickly in the room.
The best thing about the place is the bed. It's the most important factor as well. It easy to pick a place that looks nice, but when you lay on the bed, it's really uncomfortable. Not here. The bed is amazing, and it's massive! I had the best sleep here in all my time away. Some days it was hard to get out of bed! It also helps to have blackout curtains and a quiet residential area.
There are some great restaurants in the area and its a short walk to the station. Everything in Taipei is easily accessible because the transport is so quick, the city small and easily manageable, and taxis are very cheap. So don't be put off by its location.
It is on the 4th floor, and there is no elevator. But since the ground floor is actually the first, its only three small flights of stairs up. It is no problem and not something that should change your mind.
In 7 months, i stayed in lots of Airbnb, hotels and hostels. This was my favourite place the stay. It was the best price too, considering what you get - its the same price as a bunk bed in a shared hostel room! I would definitely stay here again.