The location is great with the apartment being in the heart of La Latina. It is virtually within walking distance to most attractions including Puerta del Sol. It is also quite close to two metro stations.
Be prepared for a serious exercise each time you need to access the apartment given that it is on the fifth floor with no elevators. The apartment has great potential as it is real spacious and offers stunning view of the area. However, it could certainly use much maintenance and renovation.