Despite the amazing location, this place just wasn't for us. We had more of a family gathering. The noise was accurately described as loud and not a problem. Older furniture and chipped paint is also not a problem. There are, though, some run down aspects to the apartment that just made it less comfortable.
There is a big hole in the ceiling of the twin bed bedroom (no leaking, just a hole) and some raised nails in the floorboards. The bathroom off the bedroom had a strong smell of urine, and may be an indication that the toilet isn't properly installed. The other bathroom didn't seem quite clean, perhaps the people before us cut their hair. There was a large lock of it near the trash bin.
You can't beat the location and the bar downstairs was fun on Sunday night. Might be a better a better apartment for a group of all night partiers.