I enjoyed my stay at David's place. It looks exactly as in the pictures. It's fairly spacious and tastefully furnished. A few basic items were missing(hangers, corkscrew, colander, lock for the bike, etc.) but David was prompt to address these minor issues. Neighborhood is nice & residential but not far from the action(Abbot Kinney and Rose Avenue).
The main asset of the bungalow is the quiet! I've stayed in a few ones in Venice and this one is the best on that regard. A safe haven indeed, where you can relax and concentrate if need be.
If it is a decisive factor for you, go for it! That offsets for me the fact it seems a bit pricey for what it is.