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At my first glance, I didn't think the location of this photo is where it actually is:
Link
It's Hollywood & Highland, facing West toward the Chinese Theatre.
Roosevelt Hotel in the distance on the left. Hollywood Hotel to the right.
The Dean Martin/Jerry Lewis film "At War with the Army" is playing at the Paramount Theatre.
(Part of the "7 Seas" blade sign can be seen above the theater marquee.)
The Chinese Theatre, whose spires can be seen over the P.E. Red Car, was playing a
double feature that day, Fox's technicolor "Call Me Mister" starring Betty Grable and Dan
Dailey, and a Bowery Boys entry titled "Bowery Battalion."
http://graumanschinese.org/1951.html
Date: Sunday, February 11, 1951. The neon Gruen Watch Time sign says it is 2:20 p.m.