LA is hard to get around in. What are you planning on doing? Are you going to have a car?
If Universal Studios is your destination, we did stay at the Sheraton there and it was easy to get to the studios since they have a free shuttle but it's a giant hill that you really don't want to walk. We like the City Walk for lots of good restaurants right outside of the entrance to Universal Studios. If I recall correctly, you don't need more than a day or two at the most there. My dd was 6 when we went and she was too scared of a lot of the things to make it really fun for her.
We also like (hmmm, maybe LOVE) the Renaissance Hollywood Hotel right at the corner of hollywood and Highland Center. The walk of fame is right outside the door and so is the chinese theater. We stay here if we are going to see a show with the kids at the Pantages which is right down the street and a very short cab ride. If you get a larger king room with a sofabed they let you have a rollaway too so you can all spread out to sleep.
Tell us more about what you want to see and maybe we can help you find a better place and if you are going to have a car and drive. There is sooo much fun stuff to do in LA but the getting around can be a pain.