We went to Budapest on a budget, and were looking for a cheap way to stay. Elvis Guesthouse came out as cheap and good, and indeed it was! We booked a studio - which is not at the main building, but a bit more to the center. It's a pretty large duplex studio: kitchen with two heaters, a fridge, and dishes and cutlery. Also a private shower and toilet, a two-person bed.
But the best thing was, it's so amazing close to the center of Pest, only 10 minutes walk from Parlament, a lot of bars and restaurants close by (Liszt Ferenc is just around the corner).
The only bad thing was the fact that on the opposite side of the street there's a bar... and a quite lively one too.
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