The place is beautiful and was honestly even nicer than it appears in the pictures. Malasaña is the perfect neighborhood to explore Madrid. I would recommend staying here.
I would note however that communication could be better. The host is not using their real name on Airbnb and I suspect it is just being run through a third party rental agency. The host stated that they would have the cleaning crew meet us, but when we arrived the cleaning crew did not know who Vicente or we were (because Vicente is not the hosts name) which made for a rather clumsy interaction where the cleaning crew gave us they keys anyways and let us leave our bags while they finished cleaning.