The location is great. The place is clean, has a lot of space and the view is great. Amazingly quiet for how close it is to the lively bar and food areas (great windows or something).
Despite the 5 star rating (for the things noted above), I have some important notes for travelers.
1) Laundry - there is not a laundry service in the building. There is a self serve laundry down the street that is clean, but it is crowed and most machines did not work. There is a laundromat that had a very nice lady, but it is closed on bank holidays, etc. (and there are a lot of those in Portugal) and the turnaround is not fast.
2) Stairs - no big deal for us - but very serious, old school European 50 stairs to get to the room.
3) Layout - this is essentially a two room setup - 1 room downstairs and 1 in a converted attic. The attic has beds separated by some cabinets.
Enjoy!