The apartment is perfectly located. I strongly recommend if you are a group and you want to enjoy the Lisbon night life. But it is also not far from the city center and everything can be done by foot.
In the flat there was everything needed (oven, fridge, large table...) to leave in so it was a real pleasure to spend some days there.
There is maybe one thing that was not perfect: Only one bathroom. For 5 or more people it can sometimes be a problem.
Except this everything was OK.