Will be in San Francisco late next week with my wife and two kids ages 8 & 9. Please recommend a hotel with good location to water, bridge maybe China Town that will not cost me an arm and a leg

Just so you know - the water is FREEZING - so there's not much to do but look at it.

Oh we don't plan to swim-just look.

It's not close to China-town, but Van Ness area hotels (Lombard Street area) are generally cheaper, close to the bay, good bus access to the bridge.

Lots of people seem to get the Hyatt Embarcadero on priceline for exceedingly reasonable rates.Don't know how comfortable you are using priceline, but it seems a good bet if money is a big factor.

The embarcadero area is on the water and has a very nice promenade. Lots of people walking around even in the evening.

The Columbus Motor Inn has a great location on the border of the Wharf area and North Beach. Chinatown is maybe a half of a dozen blocks away. It also offers free parking, if you are going to have a car.

The Hyatt Regency Embarcadero is your best bet. The Calif. St. cablecar is outside the front door. You can walk to Pier 39 (20 mins) Pac Bell Park (20 mins). Bart & Muni Metro are also right outside.