With location and rock-bottom prices as its biggest selling points, expect little in the way of frills at the Oceano Apartments. Limited amenities keep rates competitive, but the hotel still has a lot going for it. Older couples and young families form the bulk of its mostly British and European guests, and many are repeat visitors. Whitewashed buildings housing apartment-style rooms surround the decently sized outdoor pool. The simple lobby's has a few benches, but the space doesn't cut it as a lounge. A weighing scale by the front desk is handy, but note that reception isn't staffed 24/7. Nighttime key-card access at the gated entrance enhances security. 

Surrounded by some hotels and a wealth of bars, pubs, and eateries, the hotel has a great location. The main Plaza Pueblo Marinero square is a four-minute walk, and endless outlets here offer everything from well-priced tapas to British pub grub. Las Cucharas Beach is a five-minute walk away and popular for windsurfing. Quieter beaches and coves are equally close, and it's a three-minute walk to Playa del Jablillo, which is particularly good for swimming. Taxis are cheap and plentiful here, but not always necessary, since a bus stop is a two-minute walk from the hotel. Busses from here take 20 minutes for the resort town of Puerto del Carmen. A Spar supermarket is a two-minute walk. Lanzarote Aquarium is 15 minutes on foot, and Timanfaya's volcanic National Park is a 30-minute drive. Lanzarote Airport is 16 minutes away by car.

Studios and Apartments average 538 square feet (50 square meters), and the latter come in one- and two-bedroom categories. Renovations in 2013 mean they're fairly modern, though nothing fancy and a bit disjointed. The design consists of white-tiled floors, fuchsia bedspreads and drapes, and a mix of dark-, light-, and black-painted wood furniture. Note, beds are often twins pushed together (common in Europe). All rooms have dining areas, coffee tables, and sofas, as well as kitchenettes with mini-fridges, stovetops, kettles, coffeemakers, and toasters. Microwaves are at a fee, as are safes, satellite flat-screen TVs, ironing facilities, and Wi-Fi (per device). Rooms aren't air-conditioned, and once again, there's a fee for fans. Phones, dishes, and cookware are provided for free. 

Bright-white bathrooms have tubs with handheld showerheads, but water pressure varies. Basic toiletries, hairdryers, and towels are provided, and housekeeping is provided every other day. Private balconies are reached by glass sliding doors, and they're furnished with plastic tables and chairs. Rooms can be fitted with cribs, and connecting rooms are available. Rooms above a karaoke bar are subject to noise, and like all of Lanzarote, all are subject to the odd bug. Accessible rooms are available.

Palm trees and non-cushioned loungers in bright blues and yellows surround the outdoor pool. Its unheated waters can be chilly in colder months, although lounger availability is better outside of peak season. The terrace does get a good amount of sun, though. Next to it is the property's other highlight, Deb's Diner. This pool bar's British owners know their customers, and beers, cocktails, milkshakes, and light bites here are cheap. Weekly barbecue nights are popular, but it's not a full restaurant. Wicker dining sets are available under a large canopy, while pool and ping-pong tables are set in the sun. Optional "Full English" breakfasts are available for a fee. Guests tend to eat out, however, though poolside pina coladas are popular. There isn't much else, aside from a washer/dryer for a fee. Wi-Fi is free in common areas, and otherwise charged per-device.