The room we were in was very nicely furnished, spacious and clean, as can be seen in the pictures. It really is directly in the city centre - which means you get everywhere very quickly. But it is also quite noisy, especially from 4am when the marketers carry their stuff through the alley right below the window (super loud). Close the window before you go to bed, then it should be fine.
The mattress is super old and very saggy, so if you are picky with mattresses this will be a problem.
The two bathrooms are shared so if you are unlucky the other guests will make a mess. (Before they came everything was very clean though, I am sure that Federico takes good care of it!)