We stayed here for 4 nights in September and really enjoyed this place. It is so central, you do not need a taxi or metro at all. The apartment was clean, modern and had everything you need for a short city trip. Air-conditioned as well.
It would not be suitable for small children though and it can get noisy, especially at weekends. But would recommend it to couples who want to enjoy the museums and other sights. Prado just 10 min. walk away! And do go for a meal in La Gracia de la Montera, just a few doors away, amazing value, but does not open until 8.30pm for dinner.

Stayed in this apartment for 4 nights and would not recommend it at all especially for anyone stayin with children. The area around the apartment is full of prostitutes, the apartment above is let out to the prostitutes for them to bring clients back to. This results in people walking/down the stair/lifts. This takes place all day/night. During the night you have men ringing on the intercom of your apartment. A key is left in the front door, all night to enable the prostitutes/clients to enter the building. Some of the clients force and bang on the door of your apartment, unaware of what apartment they should be going to. I have been to South Africa, and felt safer there then I did staying at this aparment.

The actual apartment was not too bad, clean tidy and comfortable. But even if you have paid your deposit to this place, PLEASE THINK TWICE BEFORE STAYING!!!!!

We love this apartment. Its in a very central location, close to Sol and Gran Via. There are many food and shopping choices available, and several convenience store nearby. Its about 2 minutes to metro station. The owner was very friendly and even gave us a free bottle of wine on our first night.

The room itself was spacious and complete with amenities (Free internet, TV with English shows too) and we couldn't have asked for more. Would definitely stay here again next time.

We have just returned from a long weekend in Madrid staying in the apartments at Caballero de Gracias. You can walk to almost anywhere from the apartments - they are 2 minutes from a main shopping area, 2 minutes from a Madrid Vision tour bus stop, 5 mins from Puerto del Sol & Plaza Mayor - 10 mins to the Prado. Or if you prefer you have the metro at Grand Via - or slightly further Sol or Sevilla - a really perfect position. In the same street are a number of restaurants & cafes of varying prices & sophistication & a small local basic grocery shop.
The apartments are well equipped, clean, smart & comfortable. Juan speaks limited English, and our Spanish is non existent, but he is charming and helpful.
And if shoes/boots are on your list of "to do's" the shoe shops of Calle de Augusto Figueroa in Chueca are approx 6 minutes walk away - what more do you need?