If you are open to airbnb ideas there are some great deals in good areas. We have used airbnb our last two trips and haven't been disappointed. We have stayed in Isle Verde area which is close to the airport and this last time stayed in Condado which has lots of great restaurants. Old San Juan would be a great area to walk around in as well.

The restaurant el alambique in the isle de verde area was spectacular! The seafood and everything else was superb. Very friendly and relaxed environment, and right across from the beach. We could have eaten every meal here.