The apartment is very well located, just on the fringe of the Old Porto but by some up-and-coming streets where restaurants abounds. Basically, you get the best of best worlds. And since Porto is easily walkable, you should not hesitate to come here, location wise.
The commodities were excellent. We were a group of 5 people and had enough space. Kitchen was adequately stocked (but no basics like salt, pepper, oil. Our host told us it is forbidden by law to leave any such food. I did not challenge it and went to get some at the nearest grocery).
Ultimately, this apartment is a great starting point to discover Porto. We enjoyed it immensely.