Orlando's apartment is very small, but perfect for a Madrid stay. The terrace is a great feature and this is why I chose the place. Apart from that, there are plenty of restaurants, cafes and supermarkets nearby, open at all hours. The Embajadores metro is a 2 minute walk away and buses stop at the end of the road, one minute away, especially useful if you need to get to Atocha. Apart from that, everything is in walking distance really. For the week we stayed there, we only took public transport once and that was because it was raining.
There is plenty of hot water and a powerful shower, but the bathroom needs a little work. That being said, for the price you can't beat this apartment. Being on the 5th (top) floor it is quiet, with no-one stomping about above.
We would definitely return.