This is a really nice, spacious apartment. The bedrooms feel like those in a charming old hotel. The living room is spacious too and you could spend a week here without feeling cramped (which is often the case for Airbnb accomodation at this price). The kitchen is pretty well equipped and the whole place is spotless. It is an old building, the floors have their ups and downs but that adds to the charm. The front bedroom has traffic but nothing too bad and it fades away after 11. The rear bedroom is bliss in such a busy city.
Waverley station is about a 15 minute walk away up a slight hill. There are considerable tram works at the moment which means the busses don't run here, so walking or taxi is your best bet. Completion of works don't look too far off though and the noise is not a big deal.