It's a cheap and cheerful room in an apartment block. Although I paid quite a lot, this was only because it was the weekend of the Champions League Final, and all accommodation in Madrid was priced to take advantage of this. At normal prices it's good value.
The room I stayed in was only small, and had a single bed. It was fine for what I wanted, but there's no way two people could sleep in it unless they were VERY close friends! I didn't see the other two rooms, which may be larger.
Although it's in the suburbs of Madrid it's only a minute's walk to the Metro station, and from there it's about 15 / 20 minutes into central Madrid.
Although the bathroom and kitchen are shared they're both quite adequate for a short stay, and there's a balcony that you can sit out on, with good views.
But a word of warning. Madrid can get VERY hot, and there's no aircon (though that's hardly surprising at the perice). Even with the window wide open it was very warm at night. I was there at the beginning of June, when the daytime temperature was in the early 30's, and I could easily imagine getting a good night's sleep becoming a real problem in high summer. I've therefore suggested to Katya that she might provide a portable fan, as this would help a lot.
But all in all at the price now advertised I'd say it's really good value. And Katya is a lovely host - a warm and friendly person, and very willing to help with any problems.