Pedro's appartment is exquisitely well located on the south bank of the city. The walk from there to the river offers a spectacular view on the old city, the river, the boats, the impressive Dom Luis bridge, and you find yourself in a few minutes in one of the prime touristic areas of the city, filled with merchant's souvenirs stands, cafés and restaurants.
The appartment is welcoming, roomy, comfortable and well equipped. Communication with Pedro was pleasant, indications were clear, access to the appartment utterly easy.
Only downside, the touristic area isn't quite so car-friendly (traffic can be busy during day-time and parking lots full, with backed-up lines), and the expected parking lot nearby was under construction and unavailable. Just be aware and organize consequently.
Other than that, I highly recommend staying there, the location is fantastic.