Excellent location for public transportation, very cozy feel, all the kitchen equipment you'd imagine using. It's a quick walk to a Metro station and several bus lines, so while there aren't many attractions in the surrounding blocks, it's easy to get to Lisbon's main attractions. The neighborhood has a lot of amenities within walking distance for quick errands and has a slightly quirky feeling.
The only potential warning about the location is that this is one of the many hilly areas of Lisbon, and the fastest route to the place from public transportation involves rather steep stairs. However, it's hard to find many residential neighborhoods in Lisbon that don't have a steep walk at some point or another!
The one drawback, which isn't in the hosts' control, is that the walls are rather thin, and you can hear the neighbors going up and down the rather noisy wooden stairs and any stairwell conversations. So very light sleepers will want earplugs.