Go Inn

Stayed here for 3 nights. Even though the name says hostal, they have many rooms with attached baths, so it is more hotel like. The location is amazing — very central to all important sights in Madrid. We never had to take any public transport. It is hardly a min walk from the train station too.
The hostess Dana is extremely friendly, helpful, and caring. We were able to leave our luggage with her for the day when we checked out. When we came back to get our luggage, she offered us the powder room to freshen up, without us asking for it.
Rooms are small but the building is newly renovated so the facility is very clean. Windows are double paned and even though the street downstairs is bustling with nightlife, we didnt hear a thing.
Check out more reviews on tripadvisor. With such reasonable prices and a great location, this place is a deal!