The apartment is in great location, but it is very noisy in the nights because of many restaurants and bars. As it is at the famous Alfama street, we could understand it. Everything is near, you can walk to the old city, to bus stops, to taxi, to metro station. In my opinion, the place is better for young people.
Not very suitable for families with small kids, specially with stroller, the stairs to the apartment are very narrow and steep. There is a real good bakery next door with great pastes and pastries.