The apartment is located away from tourist sites but a welcome reprieve. You have some local restaurants nearby - some good, some not so good. You are within walking distance of two miradouros. Easy walk going to center but uphill coming back up to Graça (I loved the built in exercise program Lisbon offers in its hills!).
The apartment above Fado is not sound proof, but staing in the other apartment - Lisboa, which is upstairs, was less noisy.
As a solo traveller, I preferred Fado to Lisboa, which was too big and a little dated, compared to Fado.
Overall, a good stay.