Grauman's Metropolitan, at 6th and Hill, opened in 1923 and, despite being the largest movie theatre in Los Angeles and at a busy corner across from Pershing Square, seems to have been the subject of only one postcard. At least that's all that has surfaced so far. Thanks to Brooklyn theatre historian Cezar del Valle for sharing this one from his Theatre Talks collection.
Note here the verticals still say "Grauman's." Later they would be redone to say Metropolitan and in 1929 the building was renamed the Paramount. Head to our Metropolitan Theatre pages for more on the theatre, demolished in 1962.