Raquel's place was spacious and bright as in the pictures. Its location is incredibly central - just a minute to the north of Praça do Comércio. You are in walking distance of Chiado, Alfama, Barrio Alto and Principe Real.
I'm from New York so I am quite familiar with walking up stairs. This was not a problem for me. But if you have physical limitations - that may be something to think about.
The flat is in a very commercial area of the city - lots of familiar retail shops and restaurants close by. You are also steps away from Rua Augusta - a major tourist hot spot with many outdoor cafes.
This kind of vibe is very much the nature of the neighborhood. I did keep the windows closed when sleeping, but I had no problems with noise. Overall I found the apartment very peaceful (it was helpful to be on a higher floor - and you get a lovely balcony). I was also a massive fan of the nearby Time Out Market.
Raquel was very prompt if I needed anything - and has lots of tips for visiting Lisbon. I enjoyed my stay.