It can be difficult to get B&B accommodation in the city with parking so this is a good option if you need to park. However the parking is mostly at the back of Killarney House so there might be a short walk. The place itself is using the word "apartment" in its broadest sense: these are really Victorian converted flats. However they are in very good condition and well maintained.
The only small gripes I would have was that it could have been a little more clean and the door on the freezer was broken which rendered the entire fridge useless (I suspect this building was original rented out to longer term tenants, which explains the poor quality of the fridge) as the temperature was unstable. Otherwise it was fine, quiet and convenient for the city. The free wifi was a boon as many Cork hotels now charge high prices for this, but you will get slightly more luxurious places for only a little more.
