I had a really good time! Something is going on every night and I met many great people. The Walk of Fame starts only a few Blocks away and public transportation is close, too (You need a car in LA...). I would definitely stay there again!
Nice Hostel, especially great common room and kitchen area. But even better: Green Tortoise Adventure Travel. Their office is in the same building. I would definitely recommend going on a trip with them, I had a really good time at their 3-day Yosemite Park Tour.
This is a pretty small hostel and it feels almost like home, with pancake breakfast, the no-shoes-in-your-room-rule and the cozy common room. Great staff, convenient location- I really enjoyed my time there and woud stay there again.