This stay is a fantastic location in Alfama. Many wonderful, local little restaurants just steps away from your door and it's great for exploration on foot. Close to popular attractions, and keep in mind that the hills are no joke. The area is touristy, but not so saturated the way Porto's Ribeira or Villa Nova De Gaia is, for example.
The hosts were fantastic and helpful, and the space is very clean and roomy. You will hear a lot of noises from outside your door, like conversations or rolling suitcases, but I didn't hear anything from the bedroom.
Public transport is easily accessible from this location, close to a train station.
Fantastic spot, I would highly recommend it.