If you want something cheap and cheerful because you are travelling - Try the breakwater lodge. Its right on the Cape Town Waterfront, is 1/3 the price of nearby hotels, is connected to a hotel school, so you get cheap breakfasts and is rather quaint as its actually an old prison. The rooms are tiny, but I wouldnt expect to sit in these wasting away the evenings. A car rental is a must and they have free parking for guests