The apartment is cute and well equipped. There are three apartments with a shared foyer and washer and dryer, on the third floor of a larger apartment building with no elevator. That wasn't a problem for me but is of note. The location is very central, however I found the immediate neighborhood to be a little disappointing. Once you cross the Gran Via into the Malasana (a 5-10 min walk), though, there are really cute shops and cafes.

Overall, the flat was very clean and comfortable, and a good value in central Madrid.