The Royal Palace Westwood is a decent place within easy walking distance of Westwood Village. Many good restaurants and shopping experiences are immediately available. We stay there when I have a procedure scheduled at UCLA Medical Center which is less than five minutes away. The only negative I can think of is that parking is difficult and cramped.
We loved our stay at this hotel. It is quaint, charming, historic, unique, and located right on the boardwalk - perfect if you want the true Venice Beach experience. They have a nice rooftop happy hour on Fridays and Saturdays, and the staff is warm and accommodating.