This is a very large apartment with a spacious, light and airy living room, functional kitchen, two bathrooms (we didn't use the second, smaller one, but it can be practical to have it) and two spacious bedrooms. For our needs (two adults with two children) it was very good. The beds and pillows are comfortable, we all slept very well - and this means a lot when you spend the days exploring. Bedroom windows give to the opposite, much quieter side of the building from the living room, and it is very quiet during the night. The living room gives onto a large avenue and it is quite noisy if you open the windows, but fine with them closed. Kitchen has all the basics one may need, including olive oil, salt/sugar, some pasta, kitchen towels, washing liquid and dishwasher capsules - these are small but important details, this way you don't have to buy a whole bottle/pack to use just a little during your stay. There is plenty of toilet paper and shower gel in the bathroom. The apartment is on the 3rd floor without elevator, but it did not stop us, indeed the staircase has quite a spectacular view from upstairs and just adds to the charm.
The location is not central, however there are quite a few little restaurants nearby, and if you want to go to Bairro Alto or Chiado - you can do it by foot, and you get to explore the area on the way. To get to the main attractions like Jeronimo's Monastery or St. George's Castle you'd need to take either public transport or a taxi (Uber is really inexpensive and efficient).
All told, it's a fairly good value - spacious, comfortable, relaxed, quiet.