The location is amazing and definitely worth it for the price! Though it is not close to the large tourist spots (eg. th Effile tower) it is a great spot for getting to know more of the "real" Paris away from the great mounds of tourists. However if you did want to check out other parts of the city the nearest metro is less than a 5 min walk away. I was alone in the room for all of my stay so it may be different when the room is filled with more people, but if you are a fan of hostels I think this would be the place for you.
Definitely recommend!