The studio's location is the main selling point. It's just a few minute walk from the main square of Madrid. On other hand, it is on the fifth floor (it's 6th in the US) in a building without elevator. It's mentioned in the description but it's easy to miss. The stomping up is a great exercise, but you'll think twice about doing it again anytime soon. It will most certainly affect your plans.
The studio can be really bright, if you manage to open external shades that is.
There is a small fridge and some cups and plates with random set of utensils. That's all about kitchen.
The most bothersome for me was the fact there is a rather strong sewer smell from the sink in the bathroom. You'll need to seal both holes in the sink to get rid of it.