The short version
This is the part of Siem Reap most visitors recognise first: the Old Market, a tight handful of lanes, and Pub Street after dusk. It is convenient in the very particular way of a small tourist town: meals, errands and an evening out are close, but the same concentration brings delivery traffic, music and a constant turnover of people.
For a short stay, the proximity can be a pleasure. For a longer one, the decision is less about the neighbourhood name than the side street, the direction of the bedroom and whether the building is managed as a home or as a hotel.
A centre, not a quiet quarter
The Old Market and Pub Street make a useful reference point for the town, but they are not a self-contained residential district. The restaurant streets are only one layer. Behind them are shophouses, small hotels, guesthouses, local businesses and the routes towards the river. The tone can change in a block.
The best addresses here let you enjoy that compactness without having every late supper and motorbike passing below the window. Visit at the hour you mean to sleep, not just over a pleasant lunch.
Getting about
The centre is one of the few parts of town where a fair amount can be done on foot, though pavements, shade and crossings are uneven. Tuk-tuks remain the sensible default for the rest: they are quick for the river, Wat Bo, the larger roads and a return journey after dark.
There is no urban rail network to solve the last kilometre. A listing that looks close on a map should still be tested from its own entrance, particularly in rain or when the streets are busiest.
Would I live here?
Yes, for someone who wants Siem Reap to be immediate and social, and who can choose a calm building. I would look elsewhere for a family-scale home, an early night, or any pleasure in driving and parking every day.