If you are looking for a place to just sleep and see all the amazing things Prague has to offer then this place is great. It is a great location - you can walk everywhere and has the basics you will need.
It does not have a TV or microwave, but has a small serviceable kitchen and a large bedroom. The bed is a standard IKEA bed. As mentioned by other guests it can get a little noisy at night by the youngsters partying down the street so bring earplugs.
I would recommend this apartment if you plan to spend most your time out enjoying the town. For us it worked just fine. Plus if you want a great men's haircut and shave the Outlaw Barber next door is fantastic!