The hostel location is great to the none-touristy areas very local eateries, bars and close enough to the other "touristy" things you can or have to do. The staff is super friendly and helpful. Plus, the room have air conditioning (AC) which is awesome. HIGHLY RECOMMEND IT!!!
It might not be for everyone, because it's not a hotel, but a hostel, so you need to know that you will share bathroom and other facilities (even if you have your own room, which I did). You will probably also need to climb stairs, so, if you have a problem with that, you need to alert them in advance.
That said, you are getting what you paid for, so, if you're working on a tight budget, this is great. It's a short walk from the nearest Metro, there are several nice restaurants and take-aways in the area, it was mostly quiet (it's a hostel, remember), and the staff were friendly and accommodating.
It was a very convenient location. Super close to everything. Bars, restaurants, and a concert venue all in walking distance. The free coffee, and breakfast and water were super nice and for a hostel has a lot of showers and bathrooms. Even a terrace. Most of the staff were super helpful too.