The location isn't excellent. You spend unexpected extra time to make connections. You walk five minutes to the bus stop. You wait for the bus aprox. 10 minutes. The trip by bus to Moncloa metro station takes 20 - 25 minutes, depending of the traffic. In total, you spend 30 - 40 minutes to arrive to Moncloa. From there you can go where ever you want. A regular trip takes at least twenty minutes. In few words, you have to leave in early morning and go back by 11:30 PM if you want to enjoy all the attractions of Madrid.