We loved the location - in the bohemian part of town (expect a lot of young people drinking in the streets at night - can get noisy), but also just a block away from the lovely area of Principe Real and walking distance to the upscale neighborhood of Chiado. Rooftop view to die for. Walking distance to excellent restaurants. Excellent host, great communication, extremely accessible and provided us with a PDF beforehand with a run down of all the neighborhoods and must see places. Cons: the apartment was just too tight for us. My husband and I are tall and it just felt like we had to duck or shimmy all the time to move around. There are over 50 steps to get to the apartment (top floor of a historic building), plus more steps to get to the loft sleeping area, so be prepared. I also noticed several little repairs that needed to be done (already communicated to the host).
In all fairness the pictures are perfectly accurate. I would probably prioritize comfort over location next time.