Beware: Credibility of good reviews is in question!
We picked this hotel because of the great reviews on TA and my heart sank when we entered the office and noticed a display stating "Love us on TA and you'll get $75 off your next visit". This did not bode well. As other reviewers have said, this hotel has a great location, both with proximity to the beach and an area with great shops and nightlife. There is a very nice enclosed atrium that is well cared for and the parking is free. 
Unfortunately, the rooms are run down in many areas. The outside doors are covered in rust (which they were actively painting to their credit), the paint in the bathroom was peeling badly, the microwave was extremely old (25yrs at least), the room was the size of a shoebox with extremely limited lighting, the wifi didn't work in the room, and I could reach over and easily touch my neighbor on the next deck (zero privacy). Our "ocean view queen" room faced a parking lot though we could see the ocean if we looked across our neighbor's deck (partial view at best). I was so disappointed as I had no desire to spend any time in the room.
When I went down to the front desk and explained how unhappy we were with the room and why, I was told that nothing else was available. No effort was made to compensate me for what I felt was misleading advertising. The pictures they have on their website are nothing remotely close to the room we were given. I've posted some (hopefully useful) photos.
Disapponting? Absolutely. OB area? Fantastic. Return to OB Hotel? Not if I can help it.