We stayed in cottage #3 at Ytri-vik during our trip around Iceland in July, 2015. This is a bit of a mixed review.
First the positive: Ytri vik is in the most beautiful location overlooking the fjord. There is only a meadow between the cottage and the water (although the waters' edge is a cliff, so you can't actually get to the beach without climbing down). It is also very convenient to Akureyri, which has groceries, restaurants and great walking/sightseeing, and also to small towns to the north from which you can take ferries to Hrisey and Grimsey.
The cottage has a large hot tub on the front porch, which is heavenly after a day spent trekking through the cold (even in July the temp never got out of the 40s). The hot tub was clean, although it had no jets.
We stayed in a 1 bedroom cottage. The bedroom had 2 twins, and the beds were reasonably comfortable.
The kitchen had adequate materials for cooking.
~When we arrived there was no one here to meet us. We hadn't been given any check-in instructions and had to knock on the door of another cottage to ask for assistance. They said to look for the cottage with the key in the door and that was most probably ours. We did, and it was.
~Renters are expected to clean the cottage before leaving, and over time it seems like a few things have been let go.
~The shower is a stand-alone stall and the back panel is broken. When I tried to adjust the height of the water spigot it fell apart.
~In summer it is light here all the time, yet there are no shades on the bedroom windows, only a light curtain. We had to assemble our own black out curtain. (A dark garbage bag and beach towel did the trick.)
Our rating for the cottage = 3. Our rating for the location = 5.
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The view from the cottage is awesome as they are located by the fjords and the place is very calm and serene. It's a few minutes drive from Akureyri. A stay at Ytri Vik for a day or two deserves a mention on any itinerary of Iceland !