Maybe yes, maybe no....
NB: If you are "sleep in after a long night out" kind of person, there is a large construction site right across the street from the hotel. And they start up at 7:30 AM on weekdays. We got up about that time every day, so no big deal for us but take note!
If you are the type of traveler that stays at three or four star hotels, skip this place. The bathroom fixtures are ancient, the shower heads low, the water pressure lower, and the heating & cooling is out of the 1950s (steam radiators and window AC units). If you must stay in the neighborhood, try the Mediterranean, which is a block away. It is no 3 star hotel but it is a step up in comfort.
If you are a veteran of hostels or public houses, the large rooms, kitchenette, and nice staff will make your stay at the Inn pleasant. (The wi-fi is free but clunky.) There are two large grocery stores nearby, so you can do a lot of cooking if you wish; otherwise, the area abounds in ethnic eateries and pubs.
This is an old, fairly rundown place in a funky neighborhood. You are right next door to a cheapo hamburger joint that attracts people looking for a $4 dinner (Dick's). While there, I've seen more than one person pay for lunch with quarters and dimes. If you don't want to rub elbows with the hoi polloi, then you are better off staying at the Roosevelt or Red Lion downtown and taking the monorail to Seattle Center/Key Arena, etc. 
So, bottom line? We come to this neighborhood every year or two from the Midwest. We usually stay at the Mediterranean but I got a Priceline flight & hotel deal at the Inn. Would I stay here again? Maybe, depending on the price differential, etc. I'd sure consider it.