Fantastic location. Super cheap and convenient to take an Uber around, unless you want to walk up and down the hill. The Copacabana side is a little dodgy, close to the favela. Walking down to the Ipanema way is fine.
The place is really good value for the price. Bruno and his staff are great. The breakfast was good and free coffee and tea all day. The view from the pool area was nice.
My only criticism was it is super close to the favela. We stayed at the weekend and the music played all night. The rooms do have sound proofing, but I'm a light sleeper and was jet lagged, so it did keep me awake (even with ear plugs).
I would certainly stay again.