Fantastic location - Russafa is a young, exciting neighbourhood with lots of varied options for eating and drinking, in my opinion it's even more interesting than the old town. It's like the Northern Quarter in Manchester or wherever the hip place to be is in your city. Surprisingly it's really cheap for food and drink. The place directly opposite the flat, 'Red Cup',has a happy hour 5pm-9pm great for a cheap beer (half a litre of beer for 1 euro.)
Russafa seems to be the place where the locals actually go rather than other neighbourhoods, really close to the centre of town and really easy to get to from the airport via the metro (Xativa stop).
The flat is really clean, sunny and full of useful stuff.