Around the Plaza de Chueca itself for the full experience — terraces below your window until midnight. The Salesas corner (toward Calle de Fernando VI) is the elegant end, all boutiques and brunch; Calle de Hortaleza and Calle de Fuencarral put Gran Vía and Malasaña at your door. Everything here is close to everything.
Chueca lists around 175 bookable hotels and guesthouses, from roughly €46/night. Prices on the area page are live; booking 3–6 weeks out usually lands the best rate, with free cancellation on most rooms.
If it books out or you want to compare: Malasaña (from €42/night), Gran Vía (from €48/night), Salamanca (from €60/night) — each with its own area guide on this site.
Curated picks are coming — meanwhile, the live search covers every bookable property at the same price or better.