Southbank neighborhood is right in the Melbourne Arts precinct, close to absolutely everything! Not only does it have access within walking distance to all the tourist attractions/points of interest listed below, but you have a gorgeous cafe downstairs (with great coffee), a major chain supermarket within 200 meters, a chemist, and all other necessities you require. It is 300 meter walk to the Southbank dining precinct, including crown casino and many other dining options along the Yarra River.

All within 1-2km of walking, you have the following tourist attractions :-3

Crown Casino
Yarra River
Flinders Street Station
Southbank Dining Precinct
Melbourne Arts Center
Melbourne Aquarium
Royal Melbourne Botanical Gardens
Shrine of Remembrance
Melbourne Skydeck
National Gallery of Victoria
Melbourne Exhibition Centre
AAMI Park
Rod Laver Arena
Melbourne Cricket Ground
Melbourne Park
Alexander Gardens
Federation Square