We spent a week at this apartment in Budapest with our three young children. It was just what we needed: Three bedrooms and two bathrooms gave us space to spread out and not be on top of one another.
The kitchen, while quite small, was more than functional; we cooked at ate most meals there, from food we got at the convenience store (next door), bakery (also next door), or supermarket (a 5-8 minute walk). Bus and tram service are very close and very frequent, taking very little time to get into town (on the Pest side), to the metro, or anywhere else.
Our only complaints were that the wifi was a bit flaky, and the air conditioning could have been a bit stronger, but I believe that Laszlo is working to improve these, and we were in Budapest for an unusually hot period.
Bottom line: If you're a family looking to stay in Budapest, then we strongly recommend this apartment as a great base for your travels.