Wow, so usually when I book a place to say, I tell myself that I can have two of these three criteria - good price, good location, and good comfort (size of room, ac, own bathroom, etc.). Dare I say, this was the real deal and I feel like I got all three!
The room is a very good size, with much needed AC. The location of the place is ridiculously at the center (or extremely close) to almost anything you would want to see as a tourist. All the attractions are super close and probably within 15 min walking, if you didn't want to take some sort of transport. The restaurants and cafes near here are also quite good.
And, obviously, the price is noticeably cheaper than most of the other hotels in the same area! I would definitely stay here again if I return to Madrid.