The three best things about Elizabeth's apartment: location, location, location. The fourth is Elizabeth herself - she's Canadian (so fluent in English and Spanish) and has an encyclopedic knowledge of the city, with plenty of tips to offer on anything from restaurants to shops and museums, and she was able to meet us outside the apartment and let us in a couple of hours before the 'official' arrival time.
Just off Chueca square/plaza with its Metro stop, many cafes and indoor market, and a 5-minute stroll from Tribunal station along a lovely shop-lined street, it's a perfect base for exploring the Malasana neighbourhood with its numerous funky shops, bars and restaurants - and close enough to walk to central landmarks like Plaza Mayor in half an hour.
The flat itself is spotless; possibly a bit too spartan if you're looking for a 'lived-in' feel; there's no sensation of living in someone's house; it's more like renting an apartment - a homely touch or two, like milk in the fridge and tea or coffee in the cupboard wouldn't go amiss - but perfect for our needs, as we were out all day and into the small hours enjoying the city's delights.
The apartment is very quiet, which may be just as well judging by the crowds milling around outside the many bars nearby at 3am - Chueca is the epicentre of Madrid's gay scene, which seems to go on all night!
If that's what you're looking for you've most definitely come to the right place. Even if it's not (we weren't) it's a perfect location and I'd be back there like a shot (if Elizabeth would have me).