A convenient, central, no-frills stay in Madrid--a quick walk to the Sol plaza and metro stop, just steps to the Thyssen-B, and easily walkable to everywhere else in central Madrid. Felt very safe in the area, Wi-Fi worked great, and staff were courteous and efficient.
I asked for a quieter room and got one in the back--no street noise to speak of but a little noise from neighboring rooms.The room and bathroom were basic and small, but kept quite clean. The water pressure and hot water were great, but the shower itself was a very small--a little raised square dais with shower curtain on two sides--really hard to keep water from getting all over the bathroom even for a petite female.

I have stayed at Hostal Oporto maybe four times over a dozen years, and have always been very pleased. The staff is warm and friendly. The simple rooms have hot showers, large comfortable beds, and strong wifi. The neighborhood is quiet but central: just a block from the Paseo del Prado and Museo Thyssen but tucked away on a sidestreet that gets little noise. For those who want nightlife, the Chueca district is a 10-minute walk (but Hostal Oporto is in a more comfortable neighborhood than Chueca). And the price, 35 euros for a single, cannot be beat. There's even a vegetarian restaurant right next door.

I had a very up-and-about four-night stay in Madrid at Hostal Oporto, and the hotel didn’t get at all in the way of me and my enjoyment.
First of all, the hotel is located almost in the core of the city’s heart right behind the Thyssen Museum, with its quiet street accessing two of the most major roads in the area. You can’t beat this easily – being right in the centre but not near central traffic mess. The hotel, though it doesn’t match in “perfection” with its location, nevertheless its whole deal is still pretty unbeatable too. The – circa 1940 and even backwards – entrance hall strikes you with a little bit creepy feeling – not the best welcome. The staff is not that knowledgeable of the ways around but they provide any assistance they can, they smile and they keep the room very tidy. The room itself had no view and it was as small as anyone can expect from a two-star hotel, but it was clean, always warm and the large double bed for single use, as well as the whole rouge décor of the room, made up for that. The amenities were minimum – better bring yours – but the shower was more than satisfying for such a hotel – perhaps the best curtain-shower system I’ve seen for ages – and the water was always hot. More surprisingly good additions were the ample number of jacks for recharging my devices, the choice of having a safe-box and most of all the free wireless internet access – without needing a new password every 24h. Apart from the details mentioned above, the only thing that could have interfered with any guest’s peace of mind, is the almost non-existent room noise insulation from the noisy wooden floor of the corridor outside and the old heavy doors of the main entrance, but I am a heavy sleeper – especially after the unstoppable everyday touring of the city – so this lack didn’t bother me much.
All around, a very good deal for less than 40 euro, a good homing-base for just resting, refreshing and planning your next step into this stunningly beautiful city.

Stayed at this hotel for three nights (Fri to Mon) last June. It's three blocks behind the Thyssen museum, about six blocks away from Puerta del Sol, and three blocks away from the Sevilla station of the 2 line. It occupies the first and two floors of an old building, which has no elevator. I had to ring the door bell to get access to the building. It was dark inside; had to stop for a minute to allow my eyes to adjust. Then, I had to haul my luggage up two flights of stairs.
I was warmly greeted my Maria Isabel, who allowed me to choose between a room facing the street and a room in the back, both on the first floor. I chose the one facing the street. It had a double bed and a single bed, a 13-inch tube TV with cable, a small closet with a safe a few wire and plastic hangers, a bathroom, and free wireless internet. There's no refrigerator. There were generic bath gels and shampoo in sachet in the bathroom. The whole room was clean and was cleaned everyday.
The young man (who was the live-in super) and the cleaning lady were both nice.
I had a nice stay. Hotel was a great value (paid less than $70/night).