The club headquarters are located in the Nueva Pompeya neighbourhood, with Guillermo Laza Stadium of Villa Soldati as venue for football matches.

[2] The origins of Deportivo Riestra trace back to 1929, when a group of youths from Nueva Pompeya formed a football team to compete in local tournaments.

The Blanquinegro squad earned 39 points in 26 games, with a 2-point lead against Juventud de Bernal, in a tournament that also featured Almirante Brown and Deportivo Morón.

[5][6] Riestra won the Reclasificación tournament in 1969, a playoff involving many teams trying to avoid relegation, which would be the only achievement for them in this spell in Primera C.[7] In 1971 the club had its current name after merging with 'Asociación de Fomento Barrio Colón', an organization established in 1929 by businessmen and professionals that performed social activities and lobbied for improvements in the neighbourhood.

Riestra's performance changed in 1977, when the Blanquinegro achieved third place in the Primera C tournament that, even when distance to champions Sarmiento was 10 points, indicated a better shape in play.

In the 1993–94 season, the Blanquinegro squad achieved to be runners-up of both Apertura and Clausura tournaments, and won the playoff championship after defeating Lamadrid 7–0 on aggregate.

[12] They achieved promotion to Primera C again with a campaign that starred Francisco Berscé as goalkeeper and Julio Sánchez as top scorer, with 19 goals.

The Blanquinegro side had a remarkable performance in the 2011–12 tournament, in which defeated Muñiz 1–0 in the First Round, and managed to drive Los Andes and Acassuso, two Primera B teams to goalless draws, qualifying on penalty kicks.

[23] In a historical draw, Riestra met Quilmes, then a second division team, in San Fernando del Valle de Catamarca, achieving a 0–0 tie and being eliminated only in the penalty kicks.

Surprisingly, Riestra achieved the second position in their pool, 3 points behind winners Defensores de Belgrano, and ahead Dock Sud.

However, Riestra showed a poor performance in the second round that left them in the 14th position by the end of the season, thus missing playoffs[43] but managing to stay in the division, which was their initial goal.

As a distinctive achievement Jonathan Herrera became top scorer of all AFA tournaments for the third time in a row,[44] an unparalleled feat in modern Argentine football.

[54] The finals featured 4th placed team Comunicaciones amidst some controversy due to a field invasion with five minutes to go, allegedly by a Riestra player,[55] and also other regulation breaches reported by rivals and the press.

[56] AFA upheld some of the accusations while dismissed others, and decided continuation of the match in a neutral field, and several penalties for Deportivo Riestra, including a 20-point deduction the following season,[57][58] later reduced to 10 points on an appeal.

[60] The Blanquinegro squad also achieved their best in the cup competition of the season, reaching the Round of 16 for the first time after defeating Tigre on penalty kicks,[61] before being eliminated once again by Rosario Central.

After a change in management and the return of Jonathan Herrera back from loan,[69] the Nueva Pompeya squad would complete another set of 11 matches without losses,[70] including two victories against derby rivals Sacachispas.

[74] Back to second division, Riestra reached the fourth position in Zone B of the 2019–20 season when the tournament was cancelled due to the COVID-19 pandemic in Argentina.

A reduced 2020 season was played when football tournaments resumed, with Riestra defeating Temperley[75] and Deportivo Morón[76] in the knockout rounds before losing to Platense in the quarterfinals.

[79] The 2023 Primera Nacional tournament started with Riestra struggling to reach top positions, which led to coach Cristian Fabbiani being replaced.

[80] After mid-season player transfers, Walter Acuña returned for a second spell at the club, while goalkeeper Ignacio Arce and defender Nahuel Iribarren signed to improve the squad.

[81] The Blanquinegros then started to hike positions in Zone B, and after hiring Matías Módolo as coach Riestra qualified for the Torneo Reducido.