I stayed here for three nights and I'd highly recommend it. It's a fantastic bed and breakfast in a refurbished townhouse, with lovely patios and great breakfasts. The decor is just beautiful, with polished wood floors and high white walls. The multilingual owners are friendly and helpful, and it's close to the metro at San Cosme which is about three stops from the very centre of the city. Some (not all) of the rooms have a shared bathroom- a bit unusual in such a high-spec place- but if you don't mind the inconvenience of sharing, these are particularly good value.
www.elpatio77.com/
(+52) 55 55 92 84 55
Icazbalceta 77, Colonia San Rafael, C.P. 06470, Mexico
Google map: tinyurl.com/2u4bpqq