We stayed for five nights in early January, not the best time of year to be in LA, which affected our experience.
The good: The location is exceptional, two blocks back from Venice Beach, with plenty of good restaurants and cafes. Though we didn't meet the hosts, they were extremely responsive to any requests, including getting us extra towels within an hour of our arrival. There's a very basic kitchen if you want to cook, though we didn't use it.
Not so good: We found the bed uncomfortable, the mattress was quite lumpy. The shower was just ok, water pressure wasn't great and there was a build-up of grime around the door. The place was quite cold as well, not helped by the time of year, we had to rug up when sleeping, though this is probably not an issue the rest of the year.
Overall, this place was fine, and if it were cheaper might have been better value, but for the price (more than most hotels we stayed in) we would have hoped for more.