First this place is a lot bigger as it seems on the picture. You could easily stay there with several other people. It is fully furnished. We stayed there for a week and it was a nice stay.
Two things you should know :
It is still quiet far from Venice/Santa Monica by walk, Around 30min for Venice but everyone drives in La so that's not an issue.
Also, At night the neighbourhood can get quiet sketchy don't walk around too late.