Proceed with some caution
I just completed a two-week stay. The location was good for 4th Ave/UofA, but other than that it was one of the most average places I have ever stayed. It was not a pleasant first morning to discover there was no soap, shampoo or a blow dryer (I understand on these kind of rentals that the renter supplies this stuff but I have stayed in a lot of them across the world and have always experienced a starter set of supplies). The owner replies to emails quickly but was rather inflammatory and accusational when I pointed out that the ad indicated there was a phone and the space did not have one (being out of country this was an important feature in the space that I booked which was why I had booked months in advance). I found this out a few days before I was to arrive -- too late to find something in the same price range in the same general area. Because of work-related teleconference calls (and yes, I do know about Skype, etc) I had to have access to a phone. When I suggested this was going to add some cost to my stay and hours of inconvenience driving to a place a few times where I could use a phone, she accused me of bullying her. So please do check the ad carefully and be in touch with her regarding anything that is important for your stay. I was there for work and wanted a space to work at ... the desk that is in the photos is not in the space so another way that the advertisement was not accurate. The bed was very nice but the towels need replacing. I assume they were stained with bleach or something at some time but they did not look appealing to use (I have photos if you are interested). The couch needs replacing -- saggy and not very clean. Very old TV. I was not really fond of the alley entrance because I was there by myself. The alley is not illuminated at night so if you do not put the house external light on when you leave in the sunny daylight it is very dark to enter the property. If you are looking for a place in the coming months you might want to inquire too as to the status of the construction job next door (lots of hammering during daylight hours). Please also note that in my 30+ vacation-type rentals, I have never left a review containing negative comments but, all in all, this was not a very good experience. If your only/primary criteria is proximity to 4th Ave/UofA it is a great option. If you have other criteria such as starter amenities, accuracy of advertisement, cleanliness, I would suggest you consider other options.
Historic Carriage House near UofA, Med Ctr, Downtown & Fourth Avenue