The hotel itself has seen better days, and the rooms, while clean and comfortable, were modest and in need of all kinds of small repairs. Nothing to be alarmed about, if you don't mind minor shabbiness. You get what you pay for, basically.
This is more than made up for by the helpful, English-speaking, friendly staff. Everything works, even though you may find yourself wondering how it is possible. All in all the experience was very good - considering the price, fine breakfast buffet (in a lovely cafe across the street), working A/C and wifi, and great staff.
About the neighborhood: Metaxourghio has a reputation, but I thought it nicely toed the line between exiting and safe. Some proper Athens traffic and occasional noisiness were the worst things I experienced. There are also some rather nice restaurants and bars nearby. Because there are lots of hotels in this area, someone speaks English in most of them. I walked about alone and never felt unsafe or unwelcome. The Metro is around the corner from the hotel, and it will take you to any corner of Athens with minimum fuss.
Give it a try if you want to see more of Athens than the stage props at Acropolis (and yet, Acropolis by Metro = 3 stops/7 mins).