Based on the tripadvisor rating, my girlfriend and I stayed here on our way out of Vietnam. We hadn't yet experienced the 'Backpackers District', but this is a really cool place to do so. The street it is on gets PACKED at night with backpackers, tourists, and locals. It is loud, is is rambunctious, and it is FUN! There is a great Australian owned restaurant/bar across the street that has live music almost every night. The staff was also very helpful with me while I was trying to sell the motorbike we toured the country with.
The back-side room we had was very basic. For the price it was simply good, nothing spectacular. The room was clean, but the bathroom was a bit shabby, with some open holes in the walls from pipes, but that has been par for the course in our time in Vietnam. On the plus side it had on-demand hot water in the shower, the only place we've seen that in Vietnam.
A word of caution; if you're looking for quiet nights, avoiding other tourists, or don't like being hassled to buy things, then the entire street is not right for you. But if you're looking to have fun and meet other people, you'll love it. Also, I think the staff stays up very late / all night, so you can come back anytime from the bars.