The location of the place is right off of Tirso de Molina, which is a central enough station for you get anywhere. The unit is also about a 5-7 min walk from Plaza Mayor, which is THE tourist destination in the central area of Madrid. It is 10-15 mins walking to Lavapies, the western riverfront area, and to Gran Via. This is a great place for your first or second time in Madrid and you value sightseeing, but it might be too touristy for you veteran travelers.
The unit itself is comfy and really nice. I just sat in the living room balcony area and people watched as I sipped on morning coffee or evening wine. The bedroom is cozy - my GF and I opened the skylight for additional air and sunshine. The bathroom has a roomy shower and is a large enough space for two people to use.
Overall great value for what you are getting in your stay.