is located near the "mercado de las brujas", not too far from St. Francisco church. It's right in the city centre in a distance from the bus station you could walk. The market area is really nice. cheap food and a food market just about two blocks away.
The hostal is cheap (with 70b for a double actually the cheapest I could find in La Paz) and the rooms are basic (bed, closet) but rather clean. There is a kitchen on the roof top. The service is nice, but doesn't speak much english, so either you use your hand and feet or you talk spanish. They have warm water and small bathrooms with showers. As far as I know there are no privat baths.
Well, why I would recommand this hostal is that, as you can imagen or you might know from your own trips, cheap hostels are always a melting pot for interesting travelers. Here you can definitly find someone to go beyond the "standard" travel experience. Here you can find people to check out local clubs, make day trips to El Alto or roam the streets off the beaten tracks.
If you do not seek for something like that, there are plenty of travel agencies, restaurants and souvenir shops near by.
I enjoyed me stay there and I hope you will do so, too!