I stayed at Carmelo's for a week in early November and I would definitely recommend his studio. It was perfect for me as I was on my own. Place is newly renovated, clean and fully equipped. Great shower too. There was some construction noise in the building but it was intermittent and I was out most of the day so it did not really bother me. Wi-fi was good and reliable.
One of the best things is the location-- right in the heart of Malasaña.

No complaints- all in all, a great experience. I would stay there again.