This was the cheapest location we found for our Montreal trip (early August, for Osheaga), and I have zero complaints about it. We were pleasantly surprised to find our room had a balcony. There's also a bunch of bars right outside the door. And the free breakfast was a nice touch as well.
PS. There's a deli/store on the same side as the hotel, on the same block - they have a sign that says "Best poutine in Montreal" - don't be stupid. You already KNOW this is not the best poutine in the city - don't be tempted. Go get some falafels/gyros up the street instead.