The house is more-or-less in the center of El Matadero. It features a bed where the player can rest and a chest that contains ammo. Despite the fact that there are numerous beds, only the one in the far back corner can be used to save and change outfits.
There are crates of TNT throughout the building, and on the roof (accessed via a ladder) is a Maxim Gun that the player can operate.
Acquiring the El Matadero Safehouse contributes toward the following achievement/trophy:
Attain 100% List in the singleplayer game completion list.