I imagine that under different circumstances this apartment would be better reviewed. At the time I stayed they were (slowly and very loudly) demolishing the building just outside the balcony doors. So sleep was was nil to none. And dust was everywhere if doors were opened for air. The apartment itself is wonderfully located in Alfama and was clean and efficient. Nothing fancy, no homey touches or details as it is clearly a rental property but all needs are met just with no frills. The apartment was very clean and basics provided. For the price it would under different circumstances be great. However i simply would not have spent any amount to not have sleep. But in future, when demo is done, which it seems most happens to have been almost completed during my stay there, I would definitely stay again. If you are early riser and sleep deep this is good for you now as well. Pete, the gentleman who checked me in was extremely helpful and kind and lots of great info on best spots for any taste. If not for his kind assistance and communication with things I likely would have just sought accommodations elsewhere.
Oh, the mattress is also very basic and hard as many rentals have. It may be fine for some but with back problems was very uncomfortable. A topper of some sort would be helpful. What I did to resolve: pulled one of the foam toppers from one of the smaller bunk beds and it was fine then :)
This is a second floor apartment, which means 3rd to you americans. There is plenty of wonderful dining and cafes and sight seeing right within easy walking distance. The apartment is simple but modern decorated with good taste so easier to feel at home there. Above all, location.
Enjoy your stay in Lisbon!