We really enjoyed our stay at Concha and Pedro's apartment. The location is excellent, from our perspective. It's in a nice, charismatic neighbourhood, which is close walking distance to public transport, and about 20 mins from Bairro Alto.
The apartment had everything that you would need for a city break, in terms of amenities.
Concha and Pedro were great hosts, too. Full of useful advice, and quick to respond if anything went wrong.