At $25-$30 per night this hotel is truly a steal. Stayed here over a weekend because I had a very early appointment in the city and the hotel is close to a subway station; and I wasn't expecting much of the hotel itself. However, I was pleasantly surprised to find that the rooms are large and very clean, staff was helpful and the breakfast (yes, the price includes breakfast) was more than decent.
It's away from the Chao Phraya river and the shopping centers around Siam Square, which is why I think the rates are so favourable. However, it is 3 minutes walk to a subway station that takes you into Suhumvit Soi 23 in 10 minutes. Now, I've been to cities with great public transportation such as Amsterdam, Paris, New York and Singapore, and truly the subway in Bangkok is the best (it's a newer version of the one in Singapore).
Directions: About 3 minutes walk from Huay Kwang subway station - you can direct taxi to the station
48 Oriental Ave, Bangkok
333 Charoennakom Rd, Klongsan, Bangkok
250 Sukhumvit Rd, Bangkok
89 Soi Wat Suan Plu, New Road, Bangrak, Bangkok
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