Great location if you want to explore the older parts of Valencia. Easy to get to, very close to the central market, and tons of coffee shops and restaurants just around the corner.
The street is busy during the day, but it's not too noisy later in the evening. The bed is firm and comfy, and I slept very well.
Keep in mind it's on the 4th floor and there's no lift – just in case you don't travel lightly. It's a great workout to climb the stairs a few times a day, though.