My private room was in the attic and it was lovely. The whole hostel was extremely clean, always had plenty of hot water, and the laundry service was very reasonably priced.
The hostel is next to the Mermaid Park and there are lots of restaurants within steps. Santa Cruz is an easy walk and the University stairs, Botanical Garden, and aqueduct are very close as well.
Be prepared for lots of cobblestones, steps, and lots of up and lots of down in this adorable town.
Really, the only things I would change is wifi in the room (was available in common room and on terrace) and more items at breakfast(for example, unflavored yogurt).
I forgot to mention, when I checked in I was given a map and a thorough orientation to the city, which included marking where things were and suggested routes. It was much appreciated. I used that map all six days I was there.