If you want to be in the middle of the vibrant downtown, this is a really cool central location! If you are seeking a place to crash between adventures, consider carefully. While the alley and surrounding street were quiet most nights, on the weekend there was a very loud party at the short-term rental apartment upstairs (saw similar in another review), and music from a bar across the street as well. Not much Austin can do about this, but worth considering before booking to avoid surprises. Multiple fans can provide ambient noise to drown out the bar, but if there's a party upstairs, you may as well be in their living room.
The apartment itself is large and clean, with lots of space, light, and necessary amenities. The alley was well-lit, and neighbors friendly. The queen bed we used was comfortable. Austin was very responsive to communications.
Overall, I would recommend highly for anyone willing to roll the dice on (or join in on!) exuberant nightlife.