Paul's place is located in the center of everything. I felt like Chueca is the heart of Madrid, with lots of restaurants, speakeasies, dance bars and shopping streets. All major touristy attractions are walkable from Paul's place.
The apartment itself is a good size, with a room and a separate bathroom for rent. It has all appliances. Mai&Paul, Paul's parents, live in the apartment and are really great hosts, and provided me not only with basic towels, but even with fruit and breakfast. I became friends with Mai and we even went for breakfast a couple of times. She also is happy to give recommendations for good local spots and touristy places. I felt very welcomed.
Paul&James speak perfect English and reply really fast - it was super easy and pleasant to communicate.
I highly recommend it and would love to stay there again when I'm back to Madrid.