I think San Geronimo is closed, and so is the nearby Chinese restaurant on the Malecón. I'm passing that way today so I'll double check on the hotel.
In the US$20 range your only options are really going to be the pensiones on Calle Danae in Gazcue. Do a search on this site, there are more details on other threads.
There are some other options on the western side of Gazcue, nearer to the area you mention like place called Bella Epoca just off Independencia, three blocks east of Máximo Gómez, which looks nice from the outside, but no idea of pricing.
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