This place is located right next to the Luchadors, and is close walking distance to Zocalo! It is on the border of where the city begins to get sketchy, so just be aware.
Also, the accommodations are great, but the walls are paper thin. You will be able to hear the neighbors easily. When we stayed, one morning music played very loudly in the morning and there was no way to tune it out. Bring ear plugs! Also, note there is no air conditioning in the apartment, so this may be a problem at the height of summer... it was fine in May.