After another look around for Santa Fe Avenue businesses, I came across this 1925 picture on the LAPL site. The description says:
"Aerial view of the main Los Angeles plant of the Paraffine Companies, Inc., located at Vernon and Sante Fe Avenue; machinery and other industrial equipment cover the yard around the manufacturing buildings. The Mechanical Pattern Foundry Co. building appears next to the curved road on the middle left of the photo."
The curved street on the left is Pacific Blvd. A railroad runs behind the factory, but the surrounding area is mainly empty lots.
lapl.org
Here's the main advert for The Paraffine Companies, Inc. from the 1926 CD.
rescarta.lapl.org
Remarkably, pretty much all of the factory is still standing, along with a few additions.
Bing Maps
While I was looking through the 1926 CD, this advert for the Los Angeles Basket Co. caught my eye. The address is also on Santa Fe Avenue, but I haven't found any photos yet.
rescarta.lapl.org