Fantastic location! This was our first trip to San Diego and we ended up never leaving Ocean Beach. You can easily walk to all the restaurants and shops (as well as the beach). The views are to die for.
The house itself is extremely cute. We loved the antique stove. The only drawback is there's no A/C. This isn't usually an issue in SD, but while we were there it was extremely humid. The host provided fans, but those can only help so much. I wouldn't let that deter you from staying here, though.