For tourists, the location can't be much better. It's a short walk to Bathlo square and Sao Bento rail station. If you don't have a lot of luggage, it's very doable. The station is close but you rarely hear any noise.
The facility was sold recently. It looks like the new owners will do an upgrade, Currently there's no floor covering or ceiling tile or panels. The AC is cold and the shower has lots of hot water. Breakfast is included and offers enough variety so you aren't immediately bored.
There's NO laundry whatsoever. There’s a fine option. Marlin Wash, 10 minutes away. There's expresso and tea makers in the room which is rare.
The rooms are VERY small and there’s no closet. The beds are comfortable and the room is clean. The small "stocked" fridge is pay as you go. Water is replaced daily at no charge. There's no desks or "table" space at all, So no computer desk. Also no safe in the room. I was told they are coming. Like many European hotels there’s no wash cloths or Kleenex. So be prepared. The staff is helpful with recommendations.
One of the best places for the Portugese special pastry, Nata, is just down the street, Nata Sweet Nata. The $19 Euro breakfast for two includes them. You can buy more separately. Ask them to warm them up and get some cinnamon, delicious.
The two Hop On Hop Off bus tour companies both have their main pickup point within a 10 minute walk.
As long as you aren't looking for the Ritz Carlton, The Mila Porto may serve you well.