I stayed here from 29th March to 8th April 2012 for Sakura. It is very near to Shinjuku station, krispy kreme, shinjuku and keio bus terminal. A very convenient base to travel around tokyo city itself and travel out to Hakone and Kawaguichiko. The price is around 150-160 a night, its cheap. As a first time traveller to tokyo, this is the perfect hotel. With or without breakfast is fine as there are alot of alternatives for breakfast out there. The room is very small and the double bed is only 140 cm wide, but hey, this is japan, what do you expect. Staff understand english and heater/AC is working great. We went through a slight earthquake and it is safe.
From Narita airport, you can take the narita express or keio bus transfer. Going to Ueno, Ebisu, Harajuku, Shibuya, Asakusa, Roppongi, tsukiji and Disney is a breeze from here too. with Keio bus terminal, I was able to hope onto a bus and took a 2 hour bus ride to Kawaguichiko for a night ryokan stay for onsen and view of Mount Fuji.
Thank you Sunroute!