I always stay in the most old / decrepit / authentic places I can find, and I'm glad I did San Va -- but I wouldn't do it again. Those infamous paper-thin walls not reaching the ceiling let in so much noise I was 'enjoying' my own surreal radio theater play all night long. To my left, three demimonde femmes played dice and phoned various men; to my right, the mainland guy bleated like a goat to block them out, and later snored like an helicopter. A rich Italian couple moved in across the hallway for a fling like Anouk Aimee and Marcello Mastroianni in the beginning of La Dolce Vita (enough said).

We had hard time finding a budget hotel in Macau, truly cheap rooms are at a premium. We came with low expectations and stayed for a night.

Going to the bathroom at night creeps us out because it is located stairs away from our room, and the corridors were poorly lit. Being at the place makes me feel like I'm in the 1920s. The grumpy & leering old receptionist amused us a lot (hey this is Macau!).

"What you pay is what you get" describes this place the most, I wouldn't complain much at MOP$ 100/nite. Will recommend for reminiscing old Macau, but not for a good night sleep.

Look, this place is cheap. In Macau, hostel-like accommodation is rare and so if you're an experienced traveller who doesn't care for luxuries it could be for you. People rarely stay in Macau more than one night and you probably wouldn't spend much time there.
Why do I say this? Because it's rustic, to an extent even run-down, but entirely bearable short-term.
Ask for a room away from the reception because the old caretaker sleeps on a bench there and tends to make a lot of noise.
Rooms are relatively clean considering the place's age. No air-conditioning in any rooms as far as I know, it's fans only. The toilet and showers are small and very basic. You may or may not get hot water, but in summer, what the hell, it's sweltering outside anyway.

The place is well-located, mere minutes walk from Senado square and in the middle of the historic district. A water cooler is located in the lobby where bottles can be filled.
No English spoken at reception but you should be okay with hand signals and the cheat sheet taped to the counter.