Theories which presuppose or 'prove' the existence of other universes, are extrapolated from abstractions of abstractions of abstractions of an abstract formal logic (mathematical) system. Maths do not inherently represent an external reality -- instead, we use the language of maths to model or describe our perception of physical, tangible reality.
So, when you posit the existence of other universes, be weary that those claims are not empirically derived. This is to say, we have not verified through experiment and observation, the possible existence of such abstract spaces. We model these other universes, on abstract manifolds, which do not have any 'true' representation in nature.
It is not known whether or not mathematics and geometry exists objectively in nature, as Plato described, or if we simply project our own subjective perception of mathematics and geometry onto reality. As to the question of ‘where these universes are located,’ one must quickly refer to how knowledge is derived. We can not transcend our models and associations of our perceptions and experiences with reality, so it is impossible to truly visualize how our universe ‘rests’.
This is why we derive these results through logic systems (such as mathematics) as our experience is often times, counter-intuitive to the results we discover.
However, one can use crude examples and analogies to visualize a rough approximation of how our universe might rest. A very simple example is the room that you are sitting in as you type. If you can imagine yourself as the ‘universe’ and the room that you are in as ‘a higher dimensional space’ you can get a crude idea how one object, can rest in a higher dimensional space. There are much better examples for visualizing this, but that’s the quickest and easiest that I can imagine.
Also, it might be important to understand that it’s impossible to visualize these manifolds that string theory describes, with 11-dimensions. We exist spatially, in 3-dimensions, constituting six degrees of freedom. It is impossible to go beyond our perception and experience of existing in three dimensions to imagine the existence of others, and I don’t think that one would benefit much since these extra dimensions are only large enough for quantum entities to ‘travel’ along. Topology is the branch of mathematics that helps us model and describe these abstract spaces.
At least that is my cognitive construction of reality. I haven't started my undergrad physics yet, just my maths -- this is all based on personal reading.