The room is worth the cost. You'll have access to public transport very easily. Hollywood/Western Station is two blocks away and other metro local bus stops are nearby. The room is between Hollywood Blvd on one side and sunset blvd on another side, so no need to worry about food and other amenities.
Alexander is a great host. I approximated my arrival time and thus my check-in time very badly that I arrived 3 hours early, yet Alexander amidst his busy day accommodated me early and was very supportive. While booking, try to perfect your check-in time so that he doesn't be in a hurry and you get to talk to him about details and things to do.