We spent a great weekend at this cosy apartment next to Plaza Mayor. It's not as spacious or slick as it looks in the photos, but it's fantastic value for money and the location is unbeatable. You can walk everywhere and the Mercado San Miguel is right next door.
Pros: There's a lift so you don't have to climb 4 flights of stairs. Air con (in lounge only) worked well, as did the wifi. Very quiet, secure building. Hardly any street noise.
Cons: The mezzanine bed area gets quite hot. Some basic items were not provided - toilet roll, hand soap, shower mat, for example - so you may need to bring your own.
Madrid tips: If you love to eat, take the Madrid Food Tour - the Tapas, Taverns & History evening tour was fantastic. Great places to eat: Meson del Champinon, Bodegas Ricla, La Casa del Abuelo (for gambas ajillo), Mercado San Anton, Casa Julio (for croquetas). For cocktails: El Imperfecto, 1862 Bar, Bar Cock, ME Madrid hotel roof bar overlooking Plaza Santa Ana.