We spent a night in a queen-bed room on Dec 30, 07 and paid for $45. The room is clean, but small with a tiny and very old bathroom. Lobby might be the best area in this old hotel and they're renovating other areas.
The hotel is in LA Downtown, which is quite quiet during the night, but seems to be safe even at midnight. We didn't see that many homeless as other reviews mentioned, probably, because it's too cold.
Overall, If you just want a place to sleep, this is the place for you. If you want to spend more time in the room, look for another place.
goods: cheap, short walk to bus/subway station
bads: small room, far from attractions, not so impressive surroundings
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