The location could not be better - in practical terms it's the same as staying at the Ritz. Ultra close to museums, transport and cool restaurant / tapas / bar district but fairly quiet. The place has been recently done over and it's sparkling clean and efficient. We found our hosts kind and helpful. One point for renters -- they have put in a first class heating system which will make this a really warm and cosy nest for exploring Madrid on those winter weekends.