Five stars, would stay any time! Things we loved: The terrace/patio was my favorite place to hang out. We have two teens; each was able to have their own "bed" (one slept on the futon). It was nice to have a kitchen for basic utensils and two small refrigerators. The pool on the property was rarely crowded. The poolside dinner restaurant menu is small but the food is good. There is no alcohol at the bar, but they are happy to let you bring in your own alcohol, and they will sell you a soft drink for mixing. The hotel provides beach towels and beach chairs free of charge. Staff super friendly and helpful!
From the hotel, there is so much within walking distance! You can get basic groceries, snacks, and drinks at the grocery across the street. There is a coffee shop just outside the door that sells divine fruit bowls and banana bread. Plenty of food in walking distance! Beach is an easy three blocks away, so you can be on the strip in a couple of minutes.
Now the caveats. Yes, the building is old, but they keep it up pretty well. The two showers each had their own issues; painful foot surface in one, low flow and slow drain in the other. Food left out drew tiny ant-like critters. Parking can be an issue; call hotel a few days in advance and ask to reserve one of the ten spaces on site. Nearby garages work ok, but they fill up; if you get back after 9 pm or so, you'll be stuck in the mall garage five blocks away for $50.
In summary, great location, huge value for the price.