The location was awesome, and I highly recommend it for anyone visiting - close to all of the attractions, many of the main tours, pub crawls, and other events have meeting points within a few minutes walk. The train station is just down the hill with easy access to the trains to the airport, Sintra, Caiscas, etc.
Be aware that there is no Air Conditioning as stated in the listing (at least when I booked it). The Lisbon climate is pretty mild, so it wasn't too bad, but we did need to keep the windows open at night to keep the place cool.