The apartment is very nice. We were there with our 3 kids and we were comfortable. The apartment is not big and the kitchen is part of the living room, where the kids were sleeping, so we didn't cook at all. But in this neighbourhood there is no need, restaurants all around. There are supermarkets very close by and olives and cheese don't require cooking :)
Malasaña is amazing and I didn't realise just how central it is. We walked everywhere but honestly liked staying in Malasaña the best.
Highly recomend this apartment. Small and cosy, very clean and the host is both helpful and very responsive.