This apartment was very comfortable for a family of 5, and the artists among us appreciated the well-designed interior. Laura even had a few staples - shampoo, soap, coffee - ready for us when we got there. The apartment is close to a Metro line which means that it took only 30 or so minutes to get anywhere in Madrid. The small balcony was pleasant to sit on and have a coffee (two children, or one adult). I felt there was a lot of value in this apartment for the price.
The neighborhood is quiet and consists of 'apartment complexes'. There is a supermarket within easy walking distance behind the apartment. There are bars and restaurants around the Metro station, but for a nicer and more active neighborhood with lovely restaurants, walk over and around the Salamanca neighborhood to the southwest - or just go downtown.