As has been noted by others, the location of this property can't be beat. The view from the deck is amazing, you are right above a tremendous bar/restaurant, the boardwalk is just beneath you.
But that is all you are paying for. The property is cheaply furnished and not in great condition or kept up well. The outside deck and entryway to the unit hasn't been cleaned in ages and is pretty filthy. It's a _lot_ of money for a run down place -- but we thought it was worth it for the view.
Our main concern however was the used sex toy found under one of the beds along with lots of other trash which suggested that whoever is cleaning the inside of the place isn't being very thorough - in general, the surfaces and general condition of the inside appeared clean but no one needs to find what we found underneath the bed.
As for safety, again as has been noted, it doesn't feel incredibly safe. As a group of four middle-aged men, it was fine; but I wouldn't let my daughters stay there. That's just Venice in that area - and we knew what we were getting into - but that should be understood by those who don't know the area.
Joe, the contact, was a good communicator and got back to us quickly on the one question we had on arrival.
All in all, it's about as good as you could ask for location-wise if you are looking for a house on the boardwalk.. But be aware that you won't be getting a $1250/nt experience when you are inside. And you may find some unwanted surprises.