Location: 2mins to Gran Via, very near to center and all can be walkable. Puerta del Sol around 5-10mins depending on your walk and Atocha Station is around 25-30mins (we walked a lot!). Very near to MRT too (Callao, Noveciado stations) and bus stops if needed.
The room is basic but happy with the terrace and private bathroom. The house itself is somehow like a hostel as there are a lot of different rooms.
The host was also very thoughtful, responsive, and gladly changed our electric fan when we discovered it was not working.
Overall, good stay and good value for money.