I don't usually give out 5 stars very often, but I found there to be a lot of value for the money paid here. The property isn't perfect, but for the cost-value, I would give it 5 stars.
You can rent a small apartment here for about the same price as an average hotel room. My apartment came with a kitchen, a special sink designed for hand-washing your clothing, mini fridge, microwave, 2 burner hotplate, dishes, flatware and a small table & chairs in the sitting area.
The bedroom had a fan and TV, desk on wheels, and a very large closet with plenty of shelving. There are a lot of nice touches that the owner didn't have to include, but did: a blackout shade to roll down & block most of the light, for one thing. Also, on the full-size bed, there were 2 medium thickness & 2 thin pillows so you can use one or 2 to be as comfortable as possible. I really liked that I could close off the bedroom so there was less noise.
The sheets and towels were of good quality. There was plenty of hot water and good ventilation. They also have free WiFi.
The secret to having a pleasant stay here is to choose the right apartment. I stayed in number 303 all the way in the back. I would not stay in that particular apartment again because of some noise that comes from the back of the building. There's a bank on the 1st floor of the building, and the apartments are on the 2nd & 3rd floors. The bank has a diesel-powered generator, and you don't know when it will come on. When I was there, it came on Wednesday morning early, but did not come on Thursday or Friday. The generator is hidden by a plastic shield, so you can't see it, but you will hear it. Also, rain hits the plastic and metal roofs nearby and sounds like someone knocking on the door. Also somebody in another building was using a table saw or grinder in a shop & the guy works until 1130pm at night sometimes.
Next time I will stay here if I can get an apartment in the middle part of the building, not in the front or the back. The lady that runs the place is very nice. You're only half a block from the large fountain they call "El Lago" (The Lake). In December 2012, I paid 60.000 pesos per night (currently about US$33). The price changes, depending on how long you stay. Warmly recommended.