Elizabeth Bay is one my favourite inner city suburbs. Located next to Kings Cross and Potts Point, it is serene and quiet. It  has  a  European feel, with art deco  apartments  and elegant homes. Elizabeth Bay House  on Onslow Avenue overlooks the delightful Arthur McElhone Reserve, and Elizabeth Bay itself. Ithaca Road leads down to Beare Park on the harbour.
 
You can  walk to Elizabeth Bay from Town Hall, St James, Martin Place, Museum or King's Cross stations. Buses go to King's Cross as well. It's about a 3.5 kilometre walk.
 
My favourite route is from Town Hall, through Hyde park, past the NSW Art Gallery and down  the steps just past the gallery to Cowper Wharf  Woolloomooloo. Head east past the famous Harry's Cafe De Wheels, where you can  have any variety of meat pie you can imagine. Continue east past HMAS Kuttabul Naval Base to Macleay Street. Just past the Potts Point Bookshop,  a narrow alleyway takes you into Elizabeth Bay.  
 
There are many great cafes where you can have coffee or lunch.
 
Steps running from Elizabeth Bay Road will take you to Rushcutter's Bay, where you can catch a bus home, or you can walk to Edgecliff train station.