I was very pleasantly surprised with this guest house, and will definitely stay here again during my next trip. The BB44 Guesthouse is a family-run home that is warm and welcoming to its guests.
I was a solo traveler, and my room was simple but extremely comfortable - bed, desk, side table, chair, and closet. After traveling for weeks, the bed and pillows here were by far the best on my trip! Just about everything you need is freely available in the house, including laundry and a kitchen area. There are plenty of places to relax and chat with fellow house guests, too, like the wonderful glassed-in patios (my favorite) and a hot tub. Breakfast was great, and a really good deal, since cafes and restaurants are rather expensive in Iceland.
In addition to the guest house, the family is happy to help with other aspects of your trip. Maps, travel information, directions and advice is all easily available. They also run their own car rental service and will gladly help you make reservations, provide transportation, and even create personal tours based on your agenda.
This guest house is not in Reykjavik proper, but can look a lot further away on a map than it really is. It's perfect if you have rented a car, but is also only a 5 minute walk to the bus stop that will take you right downtown. I had no problems with transportation and appreciated the sense of "coming home" after a day out exploring.