This apartment is great. It's located close to the river in the lower part of the city. It's an easy "uphill" walk into the more active touristic part of town. However within a couple minutes walk you can get everything you need:
at small and medium sized groceries
traditional Portuguese tavernas
cafes etc.
The closest Metro is a quick 10-minute walk from the apartment
The apartment it's is spacious and very comfortable. The kitchen is well equipped if you choose to cook. We mostly just had lot breakfasts "at home" and then hit the streets.
Our host left some travel tips which we found most helpful and different from what we had found onions and through guidebooks.
The only thing you need to be prepared for is that the apartment is on the 5th floor with no elevator. Once you get used to walking the hills of Lisbon, this is rely no big deal but be warned, there are 86 steps!
Thanks to our host!