We loved Peter's place. It is located in walking distance of the best parts of OB. The place slept two of us and a toddler fantastically. We also took advantage of the enclosed space to get some sun and have some outdoor happyhour and snacks.
The best part of this place is the neighborhood. My wife attended classes daily at the crossfit gym 4 minutes away by foot. My daughter and I walked to the OB rec center playground and the OB public library most mornings. We loved OB Donuts and Hugo's Cantina, and the corner market right next to both.
We also went to the beach and all of the great shops and breweries on Newport Avenue. My new favorite brewery in OB is Helm's brewing and my old standby is the OB Pizza Port.
You really get the feeling that you can live like a local when you stay at Peter's. I highly recommend trying it out.