If you want to be in the middle of everything but still feel like you have a safe and comfortable refuge at the end of the day, this is an excellent apartment. It's right in the heart of Alfama - those cute trams you see on postcards go right past the door - and André, Ricardo, and Luis are excellent hosts. Make use of their local knowledge to find the best cafes, restaurants, and day trips.
You might just need to take care if you have any mobility issues. Alfama is an area of steep hills and unsure footing, and the apartment building also has steep, narrow stairs. The beds in the apartment are futon-style, so they're close to the floor and pretty solid. However, taxis, trams, and tuk-tuks pass by the front of the building at all times of day and night, so you can easily use public transport to get yourself home if the hills are tiring you out.