This place is an absolute gem - it is close to everything you need including 2 big grocery stores - Carrefur and Lidl. We (3 couples) stayed for 3 nights and we picked this apartment due to its location as we wanted to walked everywhere.
There is plenty of space as you can tell by the photos. Keep in mind though that the one bedroom is kind of a part of the living room separated only by glass doors so if you decide to sleep while others are hanging out - you might have a hard time. The kitchen has everything needed to prepare a meal. There is a washing machine but it didn't look like it was a combo with a dryer so we didn't use it.
There was absolutely no noise from the street if that's something you'd be concerned about.
We had some difficulty with the heating unit going off every night and coming back on in the morning. We brought it up to the host and he said he'd send someone to take a look at it. It didn't seem like it was broken - more like someone had it programmed in a weird way.
We highly recommend the place and the host especially for a larger group. If we come back to Madrid - we might consider staying there again.