Really well located - 10 mins walk to the palace, 10 mins walk to Retiro park and 5 mins walk to the bustling La Latina area. That's the biggest plus to this airbnb, that and the affordable price for a 3 bedroom, 3 bathroom unit.
A few drawbacks: the water pressure left something to be desired, and if one person was using the hot water, no one else could; half the towels were nice but the other half were threadbare; the third bedroom with the two twin beds is very small - best for kids, especially as the beds feel more like cots; and the living furniture looked nice but wasn't very comfortable (and looked well used).
Despite these few drawbacks, the location is great and the apt is serviceable. Communication with the hosts was also fairly smooth. So just evaluate your priorities. We enjoyed our stay but were expecting something a little nicer based on the photos.