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I spent ages looking for somewhere decent in that range. I ended up at Takan Lodge on Johnston Rd, Wan Chai. Clean, reasonably sized studio rooms, some with separate kitchen, some with kitchen area in main room. 3 or 4 minute walk to MTR, 2 stops to Central.
I've spent a couple of months there and no complaints with the place itself, but watch out for noise on the lower floors on the Johnston Road side - the trams take a bit of getting used to!
Prices around 10K. Call 21471300 (Mr Mok). Only thing not included was electricity, but that was only about $200/month.
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