The location in Little Italy is terrific. It's so easy to walk to restaurants, entertainment and transportation. It's a basement unit with the entrance on the street level. Guests step down several steps to the living room/kitchen. The couch doubles as a bed which is great for extra guests. Be sure to ask for extra sheets if you plan to use the couch for another bed. Also the bed was fitted with a bottom sheet and comforter only. These was no top sheet on the bed.
The room was muggy when we arrived so we turned on the air conditioner. It was very effective at cooling but was slightly quieter than a jet plane. There was also a lot of traffic noise from the freeway and street. Both the air conditioner and traffic noise made it hard to sleep.
As other guests noted the steps to the loft are more like a ladder. We had no problems climbing but it's needlessly steep. Two more feet of length and two handrails would make it much safer.
So, bottom line, great location and price, but ask for a top sheet and bring earplugs.