Hey miche!

I was just going to suggest Hostal Excelsior

It's certainly very good value for money. The place looks a little kind of old and shabby, but it was very clean and as miche says it has everything you need. It also has a sitting room for guests.

I think a double room with bathroom (full sized bath) is about 35 Euros. But they also have rooms with shared bathrooms which will obviously be less.

You can't get much more convenient than this.

Oh, and even though it's halfway up (down?) Gran Via, we heard no noise did we? Well, other than the glup glup of Larios but that was self inflicted

Good luck Jesus

Jo