Perfectly central to everything. 10 second walk (genuinely) to Plaza Mayor, 10 minute walk to La Latina (amazing for Tapas) and a 20 minute walk to El Retiro. Flat was clean, had AC and a lift outside, so after having a few drinks you didn't have to bother with the stairs.
Don't be put off by the folding bed - it's incredibly comfortable, and super easy to fold away. Would 100% stay here again.