They allow check-in even really late at night, big plus.
If you don't mind a few inconveniences (noise, run down place and neighborhood, stairs, lighting the hot water heater every time...) to get large space, plus amenities. This place is for you. If you're used to hostels, you'll like this place just fine.
Newer, cleaner places, in better neighbourhoods can be found for the same price (or within $1-3US), but they are MUCH smaller, or have more restrictions.