It's a great place if you really want to stay in Alfama.
The apartment is beautiful and spacious. Super clean and with a nice view of the city and the river.
The downside is not the apartment itself, but the location. Alfama is a charming old neighborhood where cars can't get in. That means that from where the taxi drop off point you'll have to drag your suitcase for 10 minutes, going up staircases and cobbled stone streets.