If you cannot afford to stay in the Melbourne CBD, then Albert Heights Apartments is an option for the budget traveler.
We stayed in the Family room & was promised at least one double bed, but it turned out to be all single beds but a bonus is your own kitchen.
These apartments are a short tram ride from the CBD. The closest Tram Stop is located a few minutes walk away, as is Smith Street Collingwood which has plenty of boozers & restaurants. If you Fancy a taste of "Little Saigon" Richmond with all it's Vietnamese Restaurants is but a few stops away on the Tram.
The MCG is roughly a 10-15 minute walk away. There are a couple of hospitals nearby as well. All in all budget digs close enough to CBD, MCG, Hospitals & restaurants
There was a problem with check in, advised reception that we would arrive at 11.00am & was told "no problem", but wasn't allowed to check in till nearly 3pm.