Wonderful location! Easy access to subway and plenty of busses, however you can walk easily to many touristic spots in Lisbon (St George castle, carmo's convent, Augusta st, etc). Heads up if you have mobility issues or bring lots of luggage as there are about 6 flights of stairs until the room. Once you are in the city center some noises are expected even in late hours, it won't be a problem if you enjoy properly your days/nights in Lisbon.
The shower drain was a bit clogged, but nothing that made showers an issue.
We would be back for sure!