The place is well located, as you can easily find a bus for the city center and get there quickly.
It has the all the space you need to spend a few days in Madrid. However, we were a bit disappointed when we saw the flat. In the pictures it looks super clean and tidy, and when you're there it's different. We noticed the floors were very dirty, the kitchen did not have the necessary tools that you need to cook (for example wooden spoon), not enough dish washing detergent, and didn't have a cloth to dry the dishes or a place to leave your dishes to dry out. The walls needed to be painted, as they were also very dirty. To sum up, the house needs a good cleaning!
The neighborhood is ok, but overall I think it was a bit pricey for the experience we got... So I would not recommend, as I believe you may get a better house for the same price.