The apartment is superb and really helped us get the most out of our stay. The location is remarable. You're right in the centre of Alfama (though not noisey at night) and you can simply nip out and be in the action. The views and the light mean you feel part of the City. If you want to go downtown then it's not a long wall at all (10 min) - and Uber is cheap and easy. The apartment itself is exactly as described.
My only advice is to bring an eye mask. We stayed in Feb so it wasn't a problem but the apartment is very light with several curtains which have no curtains, so if you want to sleep in an eye mask would help.
Great apartment. Why would you stay in a hotel?