Stayed 4 nights at Walk of Fame hostel.
I didn't really like the area, but it's a matter of taste. And yet, I decided to stay almost my whole trip in L.A.there, because it's the best you can find for such good price. Chose a 4 female dorm. Other hostels generally have more beds per room, fewer is better!
People were super friendly, design is nice, bathrooms are cleaned often enough and well maintained.
The only tough point is the steep stairs at entrance, if you have big luggage. Staff was nice and helpful.
Definitely recommended!