Fabulous apartment with fully stocked kitchen, great location - just 2 blocks off the main shopping street, less than a 5 minute walk to the grocery and 10-15 minute walk to the city center; close enough to the action but still quiet and peaceful for an evening in. Hugi was wonderful, answered all our questions, allowed a very early check-in (our flight arrived around 6am) and a late check-out to accommodate our evening return flight. The Apple TV was a nice bonus as we could watch movies from my iPad on the television. The washer/dryer was nice to have as well and I was able to figure out the operation with a little assistance from an online translation tool (the free Wi-Fi, also a great feature).
Not really a con, but something good to know in advance - the Flybus and other tour transport do not pick up at the apartment, but this isn't a big deal - just use Alda Hotel on the main shopping street (Laugavergur); the apartment is very close, just one street over and 2 streets up, less than a 5 minute walk. The only other thing I would say for improvement would be extra towels and new pillows...Only 2 towels are provided (not a big deal since we did laundry halfway through, and these may very well be available upon request, we didn't ask because we were doing laundry anyway) and the pillows could use an upgrade - they're just a bit lumpy, presumably from a lot of use, so they weren't super comfortable, but again, these are very minor issues and shouldn't in anyway deter you from staying in this fabulous apartment.