If you are traveling with your significant other, we would recommend this place! My husband and I stayed here for a quick trip. It's located in Malasana, central to bars, markets, good restaurants and in our opinion, the best churro place! It's easily walkable to Gran Via, Park Retiro, Salamanca, Plaza Mayor, Chamberi, etc. We didn't need to take transportation once!
It was comfortable & had the basic necessities. Would recommend if you like being close to all the hustle bustle!!