Kipsala is an island in Daugava river that is now a prestigious neighborhood. Built-up by low rise wooden homes ~1900 and still having an atmospheric cobbled street Kipsala is just beyond the bridge from Old Town. Thus it is a great choice for those who seek both relative privacy and a downtown location for their homes. ~1100 people live in Kipasala and there is little activity beyond an out-of-the-beaten-path walk. The views are pretty, however, Old Town is partly obscured by a major bridge and less interesting (though still historic) port districts are visible instead.
The island also had some industry, although it has been converted into lofts by now.