Very clean, great location to the university and light rail. We borrowed the bikes one day and walked/road the train the other days. It is very expensive, but probably in line with the cost of living in Seattle.
There is a great little market across the street with a deli and coffee. Trader Joe's is just a few blocks up the road.
The best place for breakfast, brunch or lunch is the Portage Bay Cafe....YUM!!! Make a reservation if you want to eat on the weekends.
The bay is a short walk away where you can rent kayaks.
We felt very safe in the neighborhood. Seattle can be a bit rough, but the Watertown hotel was clean and safe overall.