Has any one stayed here? Can anyone tell me about the neighborhood and location? Thanks!

I think you mean Arco del Lauro in Trastevere.
http://www.arcodellauro.it/index.php?lang=en

Arco del Lauro is a lovely bed and breakfast in the Trastevere. You can go to Tripadvisor.com and read what guests have said.
We stayed there two years ago and found it really charming, location is very good because not only the Trastevere in itself is a nice place to be,full of restaurants and very much alive but a short walk crossing any of the several bridges on the Tiber will get you to most well known Roman destinations. Also has very good bus and trolley bus transportation.
The Arco del Lauro is located inside an old, very old house so from the outside does not say anything but rooms and bathrooms are very nice and the whole atmosphere is welcoming and as in most places in Italy it is very clean and well maintained.

Thank you for the recommendation. Sorry for the wrong spelling. I did look up all of the reviews on TripAdvisor and most are very positive.
One more question about the area in which the hotel is located. This is our first trip to Rome and I am traveling with my teen son. Is the area convenient to walk to major tourist sites and is the area safe to walk in at night across the bridge or just in the neighborhood after dinner?

Safe and lively, even at night. Just be aware of your surroundings as in any large city.