The location is perfect, close to everything (Walking), bars, restaurants, city attractions, and others.
The building is old but the apartment is somehow renovated. (Needs some more)
Need to turn on the lavatory hot water to get hot water in the bath.
It is noisy during the day and night but this is Bairro Alto, which is normal I guess.
I can hear all my neighbors upstairs, if they walk, talk, move stuff because the building is old. It is annoying though plus they can hear you too I am sure.
After all, it is a good location for a quick vacation but not too say long if you cannot stand a lot of noise from the street, bars, and neighbors.