We spent a nice weekend at Volker's, which is close to everything downtown, including a food market and variety of good pubs and restaurants. It was a short walk or bike to many important attractions, like the Residenz, Deutsch Museum, English Garden, and Marienplatz. Location is close to the Victuals Market for shopping and train stations for seeing sites further from town. I can't imagine a more convenient place to base your first trip to Munich.