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Close to the Puerta de Toledo metro stop, very close to a grocery store. If you want, walking distance to the Royal Palace, though I'd just take the metro or bus and save your legs. Kitchen is great, has everything you need. Neighbors are a bit loud during the day. We could hear them vacuuming, and such, but it is quiet at night.
The apartment was great. We have a one year old daughter and the host Rosa provided a play pen. The host is extremely thoughtful and pays attention to detail— leaving things like maps and travel books in the unit as an added touch. Would definitely stay there again. The property is located right behind plaza mayor and Mercado San Miguel— close enough to walk over in a couple of minutes but far enough to be away from the noise at night. Excellent!