West Waco is on the southwest border of the Waco city limits; in fact, the neighborhood is in the nearby town of Woodway too. You're not far from the city center though and US Highway 84 runs through the area and will take you there. You can also head east to Interstate 35, take it north, and you'll end up in downtown Waco.
This quiet neighborhood is perfect if you want space from the excitement of Waco, but there's still stuff to do. If Waco doesn't have enough entertainment for you though, you're less than two hours from Austin or Dallas.