This 4-star hotel is located in an old mill, so it's the only old building among new sky high buildings on Avenida del Puerto. It is more very nice a 3-star hotel but the place is perfect: clean rooms, friendly staff, great location. Breakfast is not included and costs 11€ for a good buffet (both salted and sweet food).
It is located on Avenida del Puerto, half the way between the city center and the beach. It's the perfect point to start enjoying Valencia, using a taxi or the efficient bus system.