This is the place to stay!!! It is central and close to amenities. There's a supermarket nearby, a cafe to enjoy breakfast or merienda, and close to bus stops and the North Station. We visited the Oceanographic (the largest aquarium in Europe), walked around Old Town, hunted down some geocaches (we could have found more if we knew a bit more Spanish), had great paella and sushi (only because we don't get sushi where we live), and bought boardgames (Homoludicus and Cartooncorp). There are lots more to do that we didn't get to because we had a baby with us, such as renting a bike, going to the beach, walking around the parks, and cafe/bar hopping.
Amparo is also very nice, hospitable and accommodating. Her place is clean and very spacious. It was a perfect first vacation as a family!
Enjoy your stay at Amparo's in Valencia!