The good: The apartment is lovely, very well maintained with comfortable beds, a big kitchen and balcony with lovely views. It's also located very close to the tower and a few other key sites. The hosts met us there and gave us some good tips on places to see and eat, and had port and sweet treats waiting for us!
The challenging: it's located on a VERY steep hill and on the 3rd floor, so you will be doing lots of climbing. If you are taxing/ubering, have them drop you off near the Centro Português de Fotografia and save yourself an uphill climb up two giant hills. The other thing to note is that we stayed there during an intense heatwave (100 F/40 C) and there were no fans in the apartment. We asked about that during check in and the host sort of brushed off our concerns. There was little to no cooling off or night-time breeze that made it pretty hard to sleep well.