Comes highly recommended by Eating Saigon. It's about 20 minutes out of the centre but it's a pretty easy route as it's on a main road. It seems to be popular with locals. I had Cá Kho Tộ (fish steak in a spicy caramelised sauce) which was delicious, bao tử (some kind of pork stomach soup) which had a really great soup but I wasn't so keen on the meat and pork ribs which were ok.
Based on my experience, there are probably places closer to the centre which would be just as good, especially for the Cá Kho Tộ (which was the main reason I went).