Have you ever seen a 5-story apartment building with 33 studios, each equipped with a washing machine?
Instead of spending money and sharing washing machines with others in a student apartment, why not just bring one home!
Not to mention the various international cuisines nearby, just across the street is Prince Alfred Park, which has an outdoor heated swimming pool. You can easily go swimming directly after changing into your swimsuit at home!
It's true that it's not very close to the school, but it's still manageable. 13 minutes to USYD, 15 minutes to UTS, and 24 minutes to UNSW.
Actually, the main reason for choosing this building is because it saves money. For a studio, it should be quite affordable!