It is bordered to the south by Vicente López neighborhood and Florida; to the east by the River Plate; to the north by La Lucila and Martínez, and to the west by Munro.

The 1863 inaugural of the local railway station, one of Argentina's first, began attracting homeowners drawn by the area's tranquility and convenient access to the rapidly growing capital and, in 1897, the Church of Jesus of the Olive Trees was consecrated.

Graced by a mansion of an eclectic, Italianate-inspired style, the main house was commissioned by Miguel José de Azcuénaga in 1851 and designed by renowned local artist and architect Prilidiano Pueyrredón.

The residence hosted the Olivos Pact, a political agreement signed on 14 November 1993 between then-President Carlos Menem and former President Raúl Alfonsín (head of the main opposition party, the centrist Radical Civic Union).

The pact secured support for constitutional reforms allowing for the re-election of the President well as for the popular election of the Mayor of Buenos Aires, hitherto an appointed post.