Ahh Bairro Alto the Party central for Tourists. It has lost lots of it's local charms and friends of mine who have lived their have "grown out" of the party scene and moved to more residential areas of Principe Real or even Alvalade. Many of the locals have been displaced to make way for Luxury Apartments, Airbnbs and sadly hostels.
Old miraduro in Bairro Alto where people would smoke up, drink imperials and watch the river views
If you are looking for a place with views but local feel Santos maybe a match for you or Principe Real. Both are just north and west of Bairro Alto. Both a bit quieter but have walkable access to most places. Principe is much more expensive but you have the Rato Metro line (Santos is getting on next 2-years).
Looking at Airbnb I see prices ranging from 60 Euros for a one bedroom a night to 300 Euros for 3 bedroom. So take your pick.
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