Great location 2 blocks from Ocean Beach Dog Beach.
It is a little on the small side; I wouldn't recommend more than 2 people and a dog, but it's a pleasant environment. Good home base if you won't be spending a whole lot of time inside. Ocean Beach is a very laid back, friendly, bohemian type community. Lots of young people, but they don't party in a rowdy type of way, they're very mellow.
My wife and I especially enjoyed the Wonderland restaurant where Newport Ave meets the beach; it's a great place to have dinner and watch people, surfers and the sunset on the ocean.