Mirador Mansion is similar in style to the Chungking Mansions. It's a building (technically several…read morebuildings connected together) that houses a variety of business from shops, hotels/guesthouses, and residential. I stayed at a guesthouse here, so I'll leave the review of the guesthouse for that specific Yelp page.
The building itself, lets be honest, doesn't look that great from the outside or the inside. That's not to say I felt unsafe or that it was horrible, but if you're expecting a 5 star high-end shopping experience this isn't it. There are plenty of Prada and Louis Vuitton Stores for that.
There are several stores on the main floor, most being souvenir shops, currency exchange shops, and tailor shops. I believe there is a bakery or two as well. For people staying in a guesthouse/hotel in Mirador Mansion this is a nice touch. For anyone else it's probably not worth coming into these stores, unless you really need currency exchange or souvenirs (but those are everywhere in Kowloon).
If you are like me, and do not look at all like a local (a.k.a you are not Asian and most definitely a foreigner) you will likely be approached by touts offering good deals on tailor suits or dresses, or deals on "designer handbags" and "rolexes." I hope it goes without saying that the designer bags and rolexes will not be real, they're fake, and you should think twice before buying fake goods. There are plenty of high end designer stores in Hong Kong if that's what you're looking for. The custom made clothes might be legit (there are a lot of tailor shops in Hong Kong and Kowloon), but that's not something I was interested. If you feel the same way just say "no thanks" and move on. While being approached by the touts (all over Kowloon, not just at Mirador Mansion) was annoying I (a 31 year-old woman traveling alone) didn't feel unsafe or uncomfortable at any point.
This building is close to a lot of other shopping and dining as well, so there's no worry with that. There is also a Tsim Sha Shui MTR station entrance located right beside the building. The MTR will pretty much get you to any major tourist attraction in Hong Kong. It's also just a 10 minute walk to the harbour where you can take the Star Ferry to Hong Kong Island (Mirador Mansion is on the Kowloon side).
The elevators, it should be noted, vary to what floor they go to. There are elevators for even floors, and elevators for odd floors so be sure to get on the right elevator. The elevators are not big, and have a weight capacity, so if it is too full the elevator will not move until someone gets out. Sometimes there was a small line up (6 to 10 people), but I never had to wait more than a couple of minutes. In comparison I wandered through the Chungking Mansions and saw a 30 person lineup. Chungking was also a lot busier than Mirador, which made me appreciate my stay at Mirador Mansion more.
If you're a budget traveler and looking for a place to stay then do some research on Mirador Mansion (not every hotel/guesthouse here is the same quality), because you might find some place to stay. While it's not a lovely building to look at, it's conveniently located, and has several amenities.