The place was as-advertised and is a great value for what's there. The wifi worked well, which was nice for some late-night Netflix binges at the end of the day.
The area the apartment is in has a lot of character, which we appreciated greatly. We definitely had the feeling of being in Madrid. To clarify on that, it didn't feel like a cookie-cutter neighborhood. The area had its own charm to it. (It was a safe neighborhood too for anyone wondering. Never felt sketched out at all.)
It's within walking distance of plenty of touristy attraction, but is also great if you just want to wander into the city and just see where the day takes you. A few blocks down we came across a walking street loaded with shops and restaurants, which was a pleasant surprise. I suppose one of the bigger things that was appreciated was that it's within walking distance to the Prado museum and that large public garden. That was a huge plus.
Overall, we'd recommend. The experience was enjoyable. :)