Overall, the stay was fine. The apartment was clean and the location has lots to see nearby. It's a 20-25 minute walk from the water but sunrise views are nice if you wake up early and you're close to local sites such as Castelo de S. Jorge.
The apartment is directly above the trolley, which we didn't mind, but it's something to think about if you're sensitive to noise. Your view of the water looks over the cruise ship dock so it's a busy location. The other apartment in the building is an exact duplicate of this one, right down to the wall décor, so I would guess they have the same managers and you may meet other tourists in the building.
There are two things that really would've improved our experience. Despite emailing 24 hours in advance for detailed directions to the find the home, no reply was received. We then spent 40 minutes carrying our luggage before finding the location when the taxi also didn't know the exact location and dropped us nearby. While amenities such as extra towels, extra trash bags, laundry soap, cooking spices and others are not required for an AirBnB, this property had fewer of them than we've typically seen so we found ourselves shopping more than usual during the trip.
Overall, the apartment was fine and worth considering as you plan your trip.