Location is perfect.
But I don't recommend it if you have any other choices. Bedsheets are as thin as paper and do not stick to the bed, so you have to be careful at all times. All noise is shared with your neighbour, making friends with dozens of people living in the apartment. Also It's not appropriate for people who want to cook. Because all amenities including dish detergent are provided only for two days no matter how many days you stay. The dish drying rack is rusty and the dish always gets rusty. If you arrive in Porto before 4pm, you cannot store your luggage in advance. (You can leave it at their office, but you have to take a taxi at least 10 minutes)