I can't imagine a better place to stay in Lisbon, so long as you can manage a few stairs. You're right on a corridor of great little restaurants, with-or-without fado; and steps from the train station, a stroll to the river, a trolley to Belem.
The only thing better than its placement is its host. Brigida was a joy to deal with; she clearly takes pride in the apartment she renovated - in a building that has been in her family for 250 years! She made us feel at home immediately.