Location, location, location. Pedro's place was the perfect base location to explore Lisbon from. It's located on the Tram 28 line & walking distance to Rossio station which is one of the big hubs. We were able to comfortably explore the shops, alfama, Belem Tower, LX factory, timeout market and even walk to the train station for a day trip to Sintra. I think the best part about the location is that it borders Barrio Alto, where most of the night life is so the late night walk back is always the shortest!
Yes the studio is on the 6th floor, but the flights are relatively short and shouldn't be an issue if you're reasonably fit. The studio itself was very nicely decorated & comfortable (heating & ac worked well). There were a lot of thoughtful touches that made us feel very welcome - the host greeted us with local pastries and there were chocolates & fresh oranges for us to enjoy in the studio. There were also two pamphlets of personal recommendations for things to do/places to eat which we used extensively! Overall a great place to stay & will definitely recommend it to family/friends that want to travel to Lisbon.