With shuttered balconies that open out over Place Moulay El Mehdi and romantic views of the city flowing over the hills, Pension Iberia is certainly in a great spot (Room 11 has the best view). Unfortunately, the hotel itself is reminiscent of an old hospital and in dire need of renovations. Still, it's not bad for the price.
Poorly signed from the street, it's above the BMCE bank on the 3rd floor of the building.