It is an unbeatable location! Yet for overlooking Plaza Mayor, it wasn't noisy when we were trying to sleep. The local wifi is supposed to work at the apartment, but we couldn't pick up the signal. We had 4 guys there for 3 nights and it worked great for what we needed. Really the bathroom is the only room that's completely separated from the other rooms. The kitchen and living room are basically one room, and the bedroom is in its own space but connected through a hallway with no door between the rest of the place.
Manuel is a great, joyful, local host who wanted to make sure we were taken care of. His wife was available all day if we ever had questions.