The apartment is right on Cheuca Plaza which is a very lively area in Madrid with lots of restaurants and bars all around. It is also very close to the Grand Via and the central tourist areas with everything within a 10-20 minute walk with the metro being an alternative with a station being right in Cheuca Plaza.
The space within the apartment is pretty well designed given that its the middle of Madrid. Everything is a little worn down from the sofa to the beds so do not expect great furniture. It will do for a short stay but definitely not for longer stays. There were also small details like the wall in one of the bedrooms had dust on it and the fire extinguisher at the door fell on my wife's foot while the handy man from the apartment company was there fixing some lights (fortunately not one was hurt).
Communication with the rental company was good. They were prompt and provided all the details. They offer a bunch of other services as well like airport pick up and drop off but when we tried to avail of the airport drop off, we were told a day before that there was no availability. Not a big issue as Uber and other companies are easily available but this is one area that they were slow in responding.
Overall a good location for a decent apartment.