Amazing location right outside KMRT Formosa Boulevard Station and a few blocks from Liuhe night market.
Reception was courteous but not super detailed.
Rooms lock with a physical key. In-room locker (same as room key) was big enough for my backpack.
Bunks had a decent curtain (though top bunk's curtains do not go up to the ceiling), power outlet, light, and small shelf about big enough for glasses/toothbrush/phone. The light plugged into one of the two outlets, though, and I had to unplug it to be able to fit my charger.
The first room I was assigned had an unbearable smell of smoke. I closed the window and turned on the AC just in case it was coming in from outside, but when I returned later that night, it was still too much. I asked the front desk for a different room, they gave it to me with no hassle, and it was fine, no sign of smoke.
The next morning I overheard the receptionist telling a hosteler he wouldn't be allowed to return because of smoke problems; I'm not 100% sure this was related to my original room but I think it's likely. It was a bad experience, but I'm willing to assume this was not an ongoing problem.
The bathroom seemed a little worn - small rust or stains on out of the way corners. Room ceilings were also not quite finished, with rough concrete in some places.
TripGG will hold luggage for you in a locked room, but there's no system for them to know which bags are yours.