The location is perfect down the hill in the middle of most of the attractions in Istanbul. There are many nice restaurants and coffee shops around with everything walkable if you're in shape. The hill is steep, so make sure to arrange a shuffle or come from the bottom to avoid going down with the luggage.
But, I found the place over prices. It's tiny and directly on the street. The water pressure in the bathroom isn't much, and the kitchen essentials need to be replaced. Most of the pots and pans have rust on them.