Pro's: The apartment was in an excellent location close to everything: supermarkets, metro, shops, and restaurants. The apartment has absolutely everything you will need especially if you have small children such as washer, dryer, fully equipped kitchen with coffee and coffee machine ( a very nice touch indeed), sugar etc. It also has a roku setup with netflix which was nice for the kids. The apartment is situated on the third floor with no elevator. For me this was a plus because I felt like I needed the exercise after all the tapas we ate. And finally Maria (Lola's sister) was super responsive and and excellent host and super nice and friendly. The apartment was also very, very clean. The shower had decent pressure and the water came out super hot just the way I like it. Also has a bath fyi.
Cons: The furniture, tv, and general decor was a little dated. The beds seemed rather old and my husband and I had some pretty terrible sleeps because of the old lumpy pillows and old mattress. The couches and lounge chairs were super hard like I was sitting on a rock. Also, the sheets and blankets were very old and flimsy and the blankets and sheets all fell off by morning. Towels also need to be updated because they were also very thin and small.
And again three flights of stairs which could be a pro or con depending on how you look at it.
Other than these small issues that can be easily remedied a perfect place for the price and location. In general we had a great stay in Madrid.