The flat is located in a prime area, with a lot of pubs, and places to eat. It might get crowded outside of the apartment, but unless you are a light sleeper it shouldn't affect you too much.
The apartment has anything you might need during your stay. There is indeed no A/C so it might get a bit warm during the very hot days, but opening opposite balcony doors and windows seems to create the breeze you need to have a better temp.
I would recommend Ulli's place to anyone.