Earlier in our trip, we stayed at another hotel on the same street - If only we had stayed here first! The beds were so comfy, especially the pillows and linens. Nice shower and bathroom with plenty of room for toiletries. Quiet room, with a nice happy hour each day with free sparkling wine, beer and regular wines.
The restaurants on Little Bourke and beyond are excellent, it's a great location, right across from Pearl Diver which also has an amazing happy hour. Up the street is Daughter in Law, which I absolutely loved, and around the corner is Pellegrini, the famous espresso bar. Two blocks away is class rock bar Cherry. And of course, there are a zillion Asian restaurants in the immediate area.
Don't bother looking anywhere else, this is the place!