Great location. So close to everything you might want to do. It was my first time in Madrid and I could have walked to every major attraction from Paula's place. Others have said in their reviews that the ceilings are low. This is quite true. I am only 5'5" and hit my head a few times when I wasn't paying attention. It didn't bother us too much, given the price and the location, but I could imagine that being something that someone would want to know and decide if it would bother them. I can't say enough about the location, though. If we had wanted to, we could have spent the entire trip within a 20 min walk of the location. Tons of restaurants, multiple really great coffee places within a blog, including some expat run options.