[JeffDiego]

Good Lord, what a weird and unusual building. A true pastiche. An L.A. original. There must be a story behind that one.
It has a bit of everything, especially touches of most of the architectural styles that were popular in L.A. in the late 20's/early 30's. I'd call it a kind of neo/classical/moderne version of a "modern" office building with touches of "Neo-Norman French" (those odd towers on one side of the bldg's top), Regency arches (the triangular moldings above some of the windows on the second floor), those strange obelisks, "classical" pediments topped with ornaments, the neoclassical decoration you point out and also the elaborate art deco ornament perched on one side.
Whoever designed this must have been high on something!
When I was a child in the late 50's/ early 60's, I remember that ModeO'Day was an advertiser on our local Three Stooges program. The announcer would say "here's Bernice from ModeO'Day to show us some of the latest lady's fashions." It now seems odd they would have advertised on a kid's show. ModeO'Day was a lower-priced "second tier" women's store, similar to Lerner's. (Nancy Reagan wouldn't have been caught dead in a ModeO'Day's store LOL). I assume they're long out of business, but this bldg. was surely their headquarters.