First of all the name: the place is called Fruit Valley, also known as Terrazzo Apartment Hotel.
Actually it's not a valley, it's a hilltop. There you feel like being in the middle of the countryside even thought you are actually right next to the university and a few hundred meters from the main road between Phuket City and Patong. There is a golf court just around the corner.
It is very advisable to hire a car or scooter to get around the island from there.
The price/quality value is OK. Of course being quite inexpensive you can't expect the same service as a 4 star hotel or so. For example the room will be cleaned only once a week - unless you request it more often - and pay a bit more. Utilities are not included in the price but are very cheap. A well furnished common kitchen is available with no extra charge. As well as a small gym and a tiny swimming pool which has also a 50cm deep child corner.
Room: beds very comfortable, wide shower, flat screen TV with good channel choice, refrigerator, Air Conditioning.
Perfect for couples and families but i went there alone and it was OK.More