The Green House worked out very well for me on location, as I had a good bit of business to do just a block away, and it involved carrying some heavy things back to the room. The location is really great, just a block from the Santa Lucia Metro but facing Marcoleta rather than the much busier Av. O'Higgins. Downtown (Universided de Chile) and Barrio Lastarria (Universidad Catolica) are just a single metro stop away, but most of the time I just walked. There's also a big centro artesenal with tourist trappy stuff very close by, as well as a McDonald's (not very good), and a Domino (local chain with hot dogs and sandwiches, some very good). Overall a very central location and a real plus.
Marcoleta is not without noise, though, but fortunately it was tolerable. Quieter rooms don't face the street.
Common areas like halls and the stairwells have a certain lived-in smell, reminding me of visits to see a friend in Washington D.C. who lived in the unrenovated rowhouse section in the not-quite-northwest. Ah, if the walls could only talk. Fully renovating would mean prices would almost certainly go up. Since it's a shared bathroom anyway, it's very much like getting a private room in a hostel.
The smell in the bathroom referenced in other posts is sewer gas. I've seen this problem in other places around the world. They try to fight it with an automatic sprayer. The tiles and fixtures in the bathroom have been renovated , and apart from maybe needing to wash the shower rugs a bit more frequently the sewer gas was the only smell issue found. As mentioned, hot water availability can be uneven, though every day at least lukewarm was managed.
The room had a hardwood tile floor and had been kept clean with fresh linens, so there were no smell problems there. The window opened to allow in air, but there were no screens to keep out bugs or other flying insects. Climate was quite good in October...maybe a little chilly at night, but you were supplied a comforter and blankets. I saw no climate control for the room. There was also a small TV with a pretty good cable selection that includes HBO Latin America.
Everyone in the family was very helpful. I didn't try the included breakfast (slept through it or was too busy), so I can't comment on that. Booking.com handled the booking, but payment was at the hotel with a reasonable cancellation policy. TransVIP (the taxi/van service from the airport) had no trouble finding it at CLP 6200 each way.
Overall it's not a place for a honeymoon or other hang-the-moon vacation trip, and if you've stayed in hostels with private rooms then it's a similar standard. I'd give it about 3.5 stars if I could, but went for 4 based on staff being helpful, the general good idea of helping locals directly rather than corporations, and how the value compares against other options for such a prime location.