The apartment is beautiful and newly renovated. We were met at the door and showed how to use the keys. There are a lot of stairs, so you will get exercise going up and down, but you will also enjoy having some nice trees right outside your windows.
It is a lively area with many little cafes and restaurants just outside, so that does make for night time noise in the streets, but Madrid is a lively city!
The apartment is in within walking distance of the train station, many of the best museums and the heart of the old city.