If you are looking for a cheap and incredibly well located place to stay in the centre of Madrid, this is probably perfect.
It's simple but well organised and always clean. On the downside the room is rather small and very packed with the beds. On some of the beds are little curtains, but not enough to give you real privacy. Also there is almost no space to store luggage and stuff in the room (there are some small lockers in the commen areas).