Araceli's place is right in the thick of things. It was so central that we didn't even have to go beyond our street to have some of the best meals in Madrid. Most of the popular attractions were within walking distance and we never really had to use any form of transport.
As for the property itself, the check in was great, the place was spotlessly clean, and had all amenities you would expect from a home, including aircon, which is an absolute necessity in summers. Overall it had a nice cosy vibe to it.
If it isn't already clear, two things to note
1) The accommodation is on 4th floor(5th floor of Americans) with no lift/elevator.
2) 1 bedroom is on the same level as living room, the other two bedrooms(separated by partition) are in the attic, which requires its users to climb a few steps. Also because it's in attic, taller people sleeping there will have to watch their head while getting into our out of bed.