The location is perfect! This apartment is right in the middle of things with restaurants and stores right at your door. It is close to the Puerta del Sol and all the tourist attractions. While there is always lots of life right outside, the balcony doors close out all the noise when it is time to sleep. The inside of the apartment is cute and the beds are comfortable.
This apartment would be perfect if the kitchen were a little larger. There is room to fix a small snack, but not to do serious coking, which is fine because there are lots of restaurants right outside the door. The kitchen has all the basic amenities.
While we enjoyed our stay, the biggest drawback was the lack of hot water. There is enough hot water for three to five minutes of showers - less if washing dishes, etc. This is fine for one person taking a quick shower, but having to wait 30 minutes before the next person could shower was a little bit of a pain. I imagine it would be even tougher in the Winter. My wife and daughter both have long thick hair, so washing and rinsing their hair before the water got cold was a challenge.
Overall, the apartment was great and we enjoyed our stay.