The apartment was perfectly located between Alfama and Baixa-Chiado. It has everything you need for a comfortable stay. You can indeed walk everywhere. In addition, bruno was great. He was very welcoming and very helpful any time we needed anything. I had to leave before the rest of my family members, none of which speaks Portuguese. The had a very early morning flight (when there aren't many taxis around) and an embarrassing amount of luggage. Bruno made sure that a big enough taxi was in front of the building on time to take them to the airport.
This is really a great value. I hope to come back to fabulous Lisbon, and if so, I would certainly stay at Bruno's apartament.