Monte Castro was named after Don Pedro Fernández de Castro who named himself owner of the land in 1703. The area was then known as the Chacra de Castro (Castro's Field) or Montes de Castro (Castro's Mounts).
The neighborhood is one of the highest located ones in the City of Buenos Aires. Standing on the corner of the streets Segurola and Camarones is like standing on top of the "Obelisco," because they are at the same height above see level. People living in Monte Castro say that winds there blow stronger, but that floods could never reach them and when the Maldonado stream, that runs under Juan B. Justo Avenue, overflows it doesnt affect anything in the area. Monte Castro has streets full of trees with low houses and villas, and among them several of the streets are small passages or cozy and quiet dead end-streets.
On the year 1928 the street car Nº 1 did the route from Liniers to Rivadavia. On the same year, the "colectivos" started to work, giving the area a better public transport.
Like in Caballito, Villa del Parque and Flores, by the late 1930´s the General Company of Constructions had started to build small and economic houses for people with less resources. In order to get the most accommodations out of the land available, many of the lots were divided in half, creating many small passages and narrow streets, which were paved as recently as in the 1970:s. Today, most of these formerly so humble houses have been remodeled causing their value sky-rocket.
In this neighborhood along the Álvarez Jonte Avenue you can find the Centro Comercial a Cielo Abierto Monte Castro (Monte Castro Open Air Shopping Mall).
The Club Atlético All Boys (All Boys Athletic Club) has its stadium "Estadio Malvinas Argentinas" in the street Álvarez Jonte, 4180. You can also visit the El Fortín Pizzeria located on the corner of the streets Álvarez Jonte and Lope de Vega, which is another famous site in the Monte Castro neighborhood.
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- Monte Castro limits with the following areas: Velez Sarsfield, Villa Luro, Versalles, Villa Real, Villa Devoto, Villa del Parque, Villa Santa Rita and Floresta.