You will have access to the bedroom and the bathroom, but the kitchen is not part of the airbnb. The location is very central, with the transportation to main station in 15min, trains all day and night every 10 minutes (line 16, Chlodwigplatz). The Rhine is only 10 minutes walk from the place.
In this area, you have a lot of restaurants and bars and as well as clothes shops.
Little tips: Cologne is the city for bikes!
Check the description for more info about transportation and the apartment.