We are a family of 4 (13 & 15 year olds) and had the best time.
Arricife feels very authentic. Not many tourists but is a nice place to wander around and enjoy. The apartment is in a particularly nice part of Arrecife, with nice bars/restaurants around the charco (i.e. the bay you see in the photos). Other shops, including a supermarket are a [very] short walk away (check out the fish counter in the Hyper-Dino).
The apartment it's self exceeded my expectations. All the practical stuff is there (and very nice) - fully equipped kitchen (including a coffee machine), nice bathrooms, washing machine, BBQ on one of the terraces, TV (not that we used it) and wifi (the kids used this a lot). But the best bit is that you are sitting in the popular (with locals) area, on a terrace, with sunshine and a glass of wine (check out the Lanzarote wines), soaking up the atmosphere. You can pop downstairs to eat, or cook/BBQ and eat on the front terrace.
The views from the terraces are really as good as the pictures show, but the pictures can not define the atmosphere.
Lanzarote is a really interesting place too. We hired a car (garage space included with the apartment) and enjoyed exploring the different beaches (there some really nice ones away from the 3 main tourist resorts - get the ferry across to La Graciousa and spend the day there) and other sites. Considering the island is so small, it has a lot to offer and to see beyond the beaches/food/wine. The lava fields are mad! Casar Manrique is a fascinating man and I will continue to learn about him. I really was surprised at how lovely "Lanzagrotty" is, but I don't think I would have discovered how wonderful without staying in this apartment. It really was the perfect base to gain an understanding of this wonderful island.
The apartment felt like a home, rather than a holiday home (if you see what I mean). It was comfortable to be in, with everything you could need or want. Ana (the land lady) was lovely, without being intrusive... The only down side was that I kept on bumping into the glass table in the living room (and now have a big bruise), but I think that was more my fault really. :)
I really can't say enough about this place... book it! But not on the dates when we want to go back! :)