Great location, in the centre of Madrid and very close to the metro line to the airport (Tribunal Station). Almost every tourist attraction are within walking distance (1-2 km) and the other tourist attraction that are much further than that walking distance are extremely accesible by metro/bus. There are a lot of restaurants and bars and a supermarket nearby. Very good location.
Place is ok for two people, it has a kitchen with essential cooking tools, big camera with fridge, wardrobes and a extendable sofa/bed and a bathroom with shower. I would recommend you to turn off the fridge because it could be a little too loud in the night.