This is a low budget, slasher film set in West Hollywood on Halloween. Being low budget some of the acting isn't world class, but that really doesn't hurt the film because of the campy, sexy, spooky nature of the film.
There are some wonderful moments in the film, like when Eddie first sees Jake, and has trouble hitting on him because he's nervous, or when Joey gets the phone number of the guy he's interested in. On the flip side there's the scene where Eddie is handcuffed to the bed while the killer is lurking about, undetected, in his apartment. That was more suspenseful and more thrilling than "1408" and "Vacancy" combined.
In the end, like any slasher film, the killer survives, and I hope there's a sequel set in New York on Halloween. How cool would that be?