Adela's place is wonderful! It overlooks the palacio de Madrid as well as the cathedral. It is a beautiful view. Everything was within walking distance for us, as long as you don't mind walking 15 min to a destination. She gave us info for public transport as an alternative to that but we never had to use it.
One thing to note is Adela doesn't speak English, so if you do not have someone e with conversational or above Spanish it may be hard to communicate. Overall it's a great place