The apartment is situated in a fun part of town and within easy walking distance of great eating places and the fun parts of Madrid. It is on the 4th floor, which means that you have to be reasonably fit to get up there, but once you are, you will be quite pleased you did. The place is comfortable abd good value gor money.
We drove there and the nearest parking wasn't cheap during the week, about 32 Euros for 24 hours. Lots to do and see in Madrid and this place was a good base from which to explore it.