I am reluctantly leaving a great review of this apartment because it's going to be hard to reserve in the future with so many postive reviews.
The hosts were so flexible with my arrival as I had flights delays and lost luggage and offered a late check out as well. They are also so quickly responsive to any issues and requests we had during our stay.
All of the other reviews are spot on - great location, generally quiet at night and on weekends, 4th floor exterior apartment in a remodeled buidling with elevator. Everything you need is provided in the apartment. The hosts were also so generous and attentive to supplies needed during the stay (toiletries, great towels, cleaning products, etc) and also left some wonderful snacks and refreshments upon arrival. The apartment is comfortable and the heat worked great during our December/January stay. It is great for singles or couples and is more like a studio apartment as the bedroom is open to the living room with a glass partition with no door.
The piso is right in the heart of La Latina, close to restaurants, bars, grocery stores and the Metro is just steps away. You can walk to the centro in 10 to 15 minutes.
The only 4/5 star rating I gave was on "accuracy". The hosts should update the photos of the views. As other commenters have noted, there is a huge sports complex/gym being built right in front of building obstructing some of the view that had been there before. It's a pity the city allows such construction in an historic neighborhood like La Latina, but it's a reality of Madrid. Despite the construction noise during the day and the slightly obstructed view, I would stay there again in a heartbeat (if it's available!) as it was one of my favorite pisos to stay in while in Madrid.