We stayed one night in the hostal - the private rooms were booked so we took bunks in the dorm rooms. Rooms are no frills, the shared bathroom was basic, not so clean, but functional. Bunk rates were very cheap ($10)- but situated on a busy intersection in the Mariscal - could not really get any sleep. Even after the bars / discos let out at 2 or 3 a.m.; the traffic noise (constant honking) kept us awake. Bu what else can you expect? Hostal staff were reasonably helpful, but pretty disorganized. The food and beverages in the cafe were very good; but our server was a real jerk (maybe he was just having an off night).
In summary, noisy, no-frills, but cheap and convenient.