Pros: This place is in a great location. Walking distance to Lake Merritt, near a lot of restaurants, coffee shops, etc. If I were to stay in a hotel, it wouldn't be in such a great location.
Cons: You're staying in a basement, so it's not really "a place to yourself." You can hear everything that's going on above, which constantly had me on edge, wondering if someone was coming down to the basement. They also have a child, who, like every child, is quite loud. If you're looking for peace and quiet and privacy, this is not the place.
This is really not the fault of the hosts, who were very nice and welcoming, and they cooked me a wonderful Thai dinner. It's really a personal preference - I would not stay in a basement air bnb with a family living above again, but if the noise/implicit lack of privacy doesn't bother you, then go for it! It's in a great location. Note that there isn't a kitchen you can use, just a microwave, fridge, and sink (that doubles for bathroom and washing dishes).