Villa Magnolia is a delightful B&B run by Pier and Ann, who are wonderful hosts. It's been my experience that the people who run a B&B can make or break a stay, and Ann and Pier definitely enhanced my visit to Milano. They are warm, welcoming, fun to talk with, and ultra-helpful. The rooms are immaculate and comfortable. Mine faced a courtyard, and it was delightfully quiet.
One plus that Villa Magnolia has is that it is a short subway ride away from the city center in an un-touristy, but interesting neighborhood near the canal. Another asset: there's a great gelateria a few steps down the street!