My friends and I stayed at the Star Guest House (same company as Lee Garden) July27-Aug1 2007. The hostel was suggested to us by a friend who had stayed at Lee Garden before.
I actually made reservations for Lee Garden Hostel, but it seems that they place clients in their 3 guesthouses which have availble rooms for the moment.

The rooms are small. But at this point, I'd rather spend my HK$400 here than shell out double the price for a Hotel. If I had a bigger budget and thousands and thousand of dollars to spare, well then, I'm heading for a hotel.

The triple sharing room has a double bed and 1 single bed, is best fit for 2 people actually. You can use the single bed as a space for your luggage. Haha!

We actually stayed in a single room on our first night. (HK$300) Oh my, I felt like Harry Potter stuck in his closet of a room. Haha! NOT recommended for Caucasians. I'm 5"2, and I felt that the bed was a tad too small. I think they have bigger single rooms at the main guesthouse though. Best to inquire with the manager.

The water closet (shower and toilet) is small but clean.
They also make up the room upon your every request.
Fresh towels, soap, toothbrush, toothpaste, even shampoo are provided.

Since I'm from the Philippines, it was a pleasure to find out that a Filipina worked at the (Lee Garden) hostel reception. You can easily converse with Miss Susan in English, and she will in turn help you communicate with the other Chinese staff members :)

Perfect for budget travellers! And the location is splendid!
Just a few meters away from the TST MTR.
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Budget hotels in Hong Kong can often be a bit quirky. Tiny rooms spread over multiple floors of a building are the norm. Lee Garden occupies portions of a few stories of a residential and commercial building on Cameron Road convenient to the Tsim Sha Tsui MTR station and Nathan Road. We reserved the hotel in advance through their website at a rate of $58USD per night.

Upon arriving at 1:00am we were shown to our room, which was a super compact, triple on the 8th floor with one full bed and one twin bed leaving only about 1’ of walking space between them. The room was not new but still well maintained and spotlessly clean with a small TV and A/C. The security was good with a locked door providing access to the hallway with ours and few other Lee Garden Guest House rooms.

Accommodations in Hong Kong can be ridiculously priced. If you do not need all the bells and whistles of a full service hotel and are not claustrophobic you can save a LOT of money. Lee Garden is not luxurious and is nothing but utilitarian, but is secure and clean accommodation in a good location. Although you might be able to find marginally cheaper accommodation in this area, Lee Garden is a good bet.