This hostel (really, that is what it is) is located in the heart of San Diego's Gaslamp Quarter - you couldn't ask for a better location. There are 3 pubs across the street and 1 beside the hostel, not to mention many, many restaurants within 3 blocks. The Convention Center trolley station is about a 5 minute walk from this hostel. It's easy to get to, and convenient for almost anything you could want (transit is awesome in San Diego for getting you to the beach, Qualcomm, or shopping).
However, this 'hotel' is really old (which I do love), but this means you can hear EVERYTHING - the hotel was pretty empty when we were staying there but I think they stuck the only other patron in the room directly above ours, so we could hear every time he flushed the toilet, sneezed, and took a shower. Walls are thin, rooms are small, and there is no door on the bathroom (just a curtain). But, for the price, it's clean, has hot water when ever you need it, and the owners seem helpful and friendly. Take it with a grain of salt - this isn't the nicest hotel in San Diego but if you're on a budget, it's alright and serves the purpose.