If you need a friendly comfortable B and B to stay in the Downtown area look no further than Toronto Garden Inn.
I shared a twin room which can also be made into a double (Orchid room) with a friend.
The price was really reasonable. Bryan and Sam the proprietors were really friendly and on hand without being in your face all the time.
The price of the stay also included a huge self service breakfast. Trust me the fridge was stacked to capacity.
The area did seem a little dodgy at first, but that would not deter me from coming back. It is also very close to the centre and has a lot of public transport nearby if you don't fancy making the short walk into town. They also have a sister B and B called Downtown Home Inn which I stayed in too and would highly recommend.