In general, the apartment is like the pictures. It consists of a bedroom, a small kitchen and a big living room. Perfect for a couple.
The balcony has a nice view, but then you have to stand up. Since there is no parasol on the balcony there is a risk that it will be too warm to be there.
The AC is in the living room. But there is only a tiny window in the bed room, so it probably will not to be warm there.
The feeling in the apartment is a little bit like you are living in a Portugese person's home (although it's a company that rents out the apartment). It's a nice feeling, but for the money one would maybe want a higher standard (especiallt for the towels). Lisbon is otherwise a very cheap city.
But all in all, still a great stay!