First of all, I need to say that Hikemt and his family are the best hosts we ever had a chance to meet via airbnb. Not only did he helped us arrange airport transfer upon our arrival/departure, but, also, he made us breakfast one day at his beautiful terrace. Also, one night, he invited us to have barbecue at dinner time with his family...it was unforgettable experience. This place has excellent location, only 2 stops with T1 to the main city square (Sultanahmet). You need about 5-10 min walk to the tram station. The neighborhood is typical "Istanbulish" and a lot of shoe makers and shoe stores (but, unfortunately, largely only wholesale). Grand Bazaar is 10 min walk. The place is ideal for hosting 3 persons, but we were 4 and it was OK. All in all, I highly recommend this place and I thank Hikmet once again for everything!
P.S. For potential tourists who are afraid of safety issues in Istanbul, my tip is: don't be. Everything is secured with police, they now check you everywhere you go and there is no reason to be concerned. We were in Istanbul 5 years ago, and now, security is brought up on a much higher level.