Blanca’s place is located in a quiet residential neighborhood, away from the touristy part of Madrid. It is a five minute walk from beautiful Retiro Park, a 20 minute walk from the Prado, and two blocks from the Metro. (An aside: the Spanish Metro system is amazing...clean, quiet, and helpful people!)
There are two good coffee spots nearby, and quite a few good restaurants.
As others have noted, the room is VERY small. But since we planned to spend our time sight-seeing, not hanging out in the room, it was fine for us. The room is tastefully appointed and surprising amounts of storage for such a small space. The shower works great, with plenty of hot water. The double bed is comfortable.
The breakfast was not what we expected. It was packaged items...a half loaf of bread, some fruit, milk, and a coffee pot with some coffee pods. Also some tea bags. There was a microwave for heating water for tea. When we checked in, a helpful lady was there, (Blanca was at work.) After speaking with her about breakfast, she returned with some cartons of yogurt and some packaged croissants.
Overall, it was a good experience and well worth the price.