On the first impression, this is the perfect apartment. The location is really great. The style of the apartment is really nice and it feels good to be there. The view from the balcony/terrace is one of the best we've ever had. You have the perfect view over the river. The rooms have air-conditioning which was really good.
Now for the bad part: The rooms were made and everything looked clean on a first glance. Later on we had to find out about a really bad smell coming from one of the bathrooms. Also there is a constant and really strong smell of fish when you leave windows open. We found two cockroaches. One in the kitchen and another in the living room. Other than this there was a broken mirror in one bedroom and a bathroom without light.
Conclusion:
The apartment is a really really nice place but it has some problems you should definitely be aware of. For us it was not too much of a problem and we still enjoyed our stay in Alfama in this big apartment.