This apartment is all about the location: shopping, night life, restaurants are right outside the door (without being noisy) and all the major attractions are within walking distance.
While the apartment looks exactly like the photos, we had expected it to be more spacious. It is more like a dorm room than a fully fledged apartment. While it has everything you need, if you plan to do work or spend more time there, it might get pretty cramped. Given the price, this is still a great choice if you want to be right downtown and don't plan to spend a lot of time in the apartment.
One thing to note is that when we were there, there were neighbors who smoked regularly and it could be smelled in the apartment on occasion. If you're sensitive to that, it might be something to consider.
Also, when we arrived the host made us sign some kind of agreement that we would have to pay for any damages to the appliances and there was a price list in the apartment with steep prices for various items. While it is okay that guests should cover things they damage recklessly and (so far) we did not hear anything about it, it still felt strange to sign some Spanish language paper work first thing upon arriving late at night.