My family of five (kids ages 10, 5, and 2) just stayed in the Capital Records unit. It was very nice and offered your basic necessities. It offered enough room to feel comfortable for the five of us. The balcony was very nice to sit outside and enjoy breakfast or a cup of coffee. The shared outside area behind the gate was a nice place for the kids to run around, kick a ball, or play catch.
Before arriving, I was a bit nervous of the noise coming from 101 however I was pleasantly surprised at how quiet it was given it's close proximity to the freeway as well as Hollywood. It's a great location to walk around and sightsee Hollywood....close to Hollywood Blvd, Walk of Fame, Trader Joe's, even a nice walk up into the Hollywood Hills to get a closer look at the sign. The location would suit your needs to explore Hollywood however it's also a very easy location to get around the rest of LA. Our family visited Universal, Knotts Berry Farm, and Six Flags Magic Mountain which all were very easy to get to/from. Overall, a very nice place.