We were staying at this apartment from the 25th of October till the 3d of November.
The location is very convenient: it's right near metro, train and taxi stations, walking distance from both city centre and major attractions of Alfama. Also you can find a big supermarket at St.Apollonia and various mini-markets nearby. There are even some great places to dine out right just at your doorstep (Casanova, for example, but it's always busy due to popularity and reasonable pricing), but it's also very pleasuring to walk back to the apartment after the evening spent at city center.
The apartment itself has an amazing view to the river Tejo and is combining Alfama region flavor with very nice decor. The apartment has everything you need, is very clean and tidy.
I should also mention that the building doesn't have an elevator, just stairs, so you should take into an account this issue if you have problems walking up and down stairs, but for us it was fun to experience this as Alfama itself is a city area on the hill and you should be prepared.
I couldn't recommend this apartment more to everyone as it provides both old Lisbon experience with very convenient location and amount of comfort at the same time. We had pleasure staying there and I wish you the same.
As for Lisbon, the weather is almost always great, the cuisine is fresh and delicious, the city offers a lot to explorer whether you like old narrow streets and castles, rococo style, modern art or just came here to taste great wine. The traffic is low and there are not so many people actually, the whole atmosphere of the city is very relaxing. The transport system is great so there were no problems for us to reach Cascais beaches, Sintra, Queluz, Mafra and Ericeira coast (ocean is great by the way). Although I advise you to learn a few words in portuguese to understand the directions and basic phrases as some locals both in Lisbon and surrounding villages are very friendly and happy to tell you everything about the city, their villages and what you should definitely visit and see, but only in portuguese, and they tell great stories and give great advises.