Excellent location, especially if you plan to spend most of the day outside and only shower and sleep at the apartment.
Not fit for more than 3 people or if you want to cook meals for yourself.
Air conditioning is a plus.
The street is reasonably quiet, having in mind it's the city's center.
If you come with a car - calculate 20-25 Euros per day in one of the parkings nearby (they take your car elsewhere - it's not parked nearby).
Very close to all major attractions & restaurants. A good supermarket is less than a minute walk.