Booked a deluxe room here. There were a few annoyances. Booked direct with the hotels website and they want 10% deposit, then they want a service charge. On arrival they want a key deposit. I asked for a Bangkok tourist map and they charge 45 Bhat for that. I was getting fed up by then.
The main building of the hotel is a bit grim. It appears to be an old office block that has been converted to accommodation. We were given the key to our room and directed there. No one shows you to your room. The room was OK, nice and clean, but no TV. The room was right next to the communal showers and toilets for the dorm rooms so we didn't really want the noise and disturbance. We asked to move and got a superior room in the annexe. This is better, has a TV and is quiet. A deluxe is 950 Bhat and superior is 1100 Bhat. There is no breakfast included and it is quite expensive for what it is.
The hotel is a ten minute walk from the Khaosan Road area and about the same from the water taxi on the river which gives you access to many sights and the Skytrain right down at Saphon.
It is annoying that breakfast is not included. Most hotels do. Just down the road is guesthouse called Sam Sen Sam. They do a very nice breakfast for 100 Bhat. You may be better off staying there.

I stayed at Penpark Place on three different occasions and three different rooms. At first I took a standard double room -- large and clean, but one problem: it was beside some construction work. The second time I asked to be placed away from the noise. The room was very dirty, with spiderwebs everywhere and dirty pillows and, in addition to the construction work noise I also got the noise from the common living area. The last time I booked a deluxe double room. Those are in a new building away from the noise and facing a pleasant garden. Rooms are smaller than the standard ones but better maintained and clean.
If not all, most standard rooms are now affected by noise coming from construction work at a building beside the hotel. Only if you are an early bird this won't affect you much _they start around 6:30-7pm.
About the location: it is within walking distance from Khaosan Road and near bus links with several parts of the city. Breakfast is quite decent and staff, helpful.