Barebones fringing on second hand boutique wannabe hotel.
The cheap prices are not seasonal, are permanent made as if they have a sale going on, in fact, hotel seems to be used to its end days, furniture is IKEA chinese knock-off coming off at the seams, the surrounding area is pretty bad, looks rough, feels rough and locals do not appreciate having a cheap hotel nearby.
BUT, if you are in Madrid for a couple of days and you know how to move around, this place may just do the job.