We had a nice time staying at Silvio's place. It's a fabulous location! Just across the street from the park overlooking the ocean and a few blocks from Santa Monica Pier. And a few steps from the delicious Joe's Pizza! Also a few blocks from the great Santa Monica Farmers' Market (on certain days).
With that location, you should expect street parking to be a bit difficult, but not impossible. There are many garages around. We did not use Silvio's pass, but I probably would use it next time, as I learned that overnight street parking is not allowed in Santa Monica. Overall, I recommend this place as a good value for the location (as long as you don't expect it to be pristine).