First things first…make sure that you give the correct address of this hotel to the taxi driver. There is another Tokyu Stay Shibuya in the area.
The main reason on why I booked this hotel was due to its proximity to the duo MUSIC EXCHANGE concert venue. It is about a 6 minute walk to the venue. Aside from this, the hotel is very conveniently located near the center if want to walk around to look for places to eat and shop. It is near a neighborhood area, which seems safe. There are many people walking too. It is clean and is a par to the US chain hotels that I am used to ($150/night type). I was very pleased with the washer/dryer inside the room, including the detergent. It is good for small loads.
As for the train station, it is about a 10-minute walk. This is good when the sun is still not up, but when summer is in full bloom, you will be sweaty and tired when you reach the hotel or the train station. You can take a taxi to/from the hotel. It costed us about 1,100yen or USD8. Not bad.
Overall…I will book to this hotel should I visit Shibuya again in the future.