Lord St, Richmond, VIC 3121

Lord Street, where I lived for a decade, and only pass through now, is right in the middle of two great shopping strips, noted for their cafes, restaurants, clothing shops (particularly factory seconds outlets), nightlife including many hotels with live music and with almost all retail sectors well represented.
There is also public transport a plenty with 5, yes 5 train stations in the suburb and four main tram lines. It is an interesting walk or bike ride into the CBD, particularly when you find the back streets route.
The Yarra River bike path isn't far away, neither Yarra Bend Park which is like being in the country although your only 'spitting distance to the CBD'.
The Road itself has had trees planted recently which will help improve the streetscape. Being one way for half its length, and with speed humps, the traffic is kept reasonably quiet.