http://www.hostelworld.com/

Private studio, one and two bed room apartments are located in the city centre near to the most historical, prestigious pedestrian streets of Moscow - The Old Arbat Street. The street boasts an impressive selection of cafes, restaurants and bars, where you can have everything from a cup of coffee and a French pastry, to a genuine Lebanese shawerma (kebab) or a tasty thick milkshake in 1950s American Diner.
The apartments are a few minutes walk away from 'Arbatskaya' and 'Kievskaya' metro stations and the Kremlin. All apartments are provided with private fully-equipped kitchens and bathrooms, TV, video, stereo music center.