This motel is so thoroughly (and accurately) reviewed, the only thing I can add is that it's actually relatively newly built, even though it looks old. The look of it mimics other classic "Route 66" motels in the area, but the family that runs it apparently built it from the ground up between 2001 and 2005. So while it looks really basic, the rooms are actually large and relatively modern.
The location is fine, just not very convenient to quickly reach the airport, Sandia Peak, Nob Hill, or the interstates. It's kind of in the wrong corner of town for those places. (But great if Old Town really matters to you.)