This photo, believed to have been taken in 1912, is part of a much wider panoramic photo montage in the Library of Congress collection.

Click here to see a larger version* of the panorama which appears to have been taken from above the Immaculate Heart campus between Garfield Pl. and Gramercy Pl. The original IH school building can be seen in the foreground about 1/3 in from the left. The printing "Hollywood - Los Angeles" is just below Franklin Ave. between Gramery and Garfield.
*Depending on your browser settings you may have to click on the image once you download it to get it to full size.