check out http://www.ownersdirect.co.uk/Canary-Islands.htm

Poblado Marinero is at "ground level" near the marina, and there is a lido opposite, which you may get free entry to. (not sure if this applies to private rents). The apartments are spacious, and while the Tour Operator owned ones are a little in need of TLC, the private ones might be more luxurious. If you get a marina view there is always something going on to look at, from the cliffs in all weathers, to boats and boat trips coming and going, and watching people try and park along the harbour side in the evenings!

Being near the marina means you don't have to walk uphill after you've been out for a meal etc., the disadvantage is that they don't get so much sun in winter as they're tucked further under the cliff. If you're after a sun trap, you may prefer to be sited further up the hill. But if you're too high up, it's a real hike to get home after a trip to the beach or bar