The location is perfectly central to Madrid and allows you to walk anywhere in the city with ease. It is also very close to various supermarkets and public transport of you choose to use it. There was quite a lot of noise as the downside of being so central but it didn't trouble us and we slept fine. The apartment was basic and clean, but could have been made better with provision of basics like oil for cooking and washing powder for using the machine- we had to provide our own which was less than suitable for travelling.