The location is ideal, just off Gran Via, and within a five minute walk of good Metro connections. And Gran Via has everything... If you know London, think of Oxford Street meets Theatre Land meets Soho... So that means good shops, entertainment, countless eating places, and many historical and cultural locations within walking distance.
It may help to be broad-minded: at least, don't be offended if you see street-ladies also just a few minutes walk away - but that is just another part of being in the heart of the city.
The apartment is cleverly designed, with everything you would need for a short stay, within a single living space (plus bathroom): It has a well-equipped kitchen, a small table for eating or for work (I was visiting on business), TV and seating area, and a comfortable bed.
Being on the third floor (don't worry, there is a lift!) means that the noises from the street, and the restaurant over the road are not intrusive - just a gentle background murmur to remind you where you are, softened further by good shutters and curtains.
I will be returning!