On Flickr the date given is 1934.
I'm quite sure that the date is 1927 or early 1928. Peninsula Hotel was finished in 1927, and the tower on Signal Hill received a coupola in the second quarter of 1928 - it's not on the photo.
Source: This image came from Flickr, see https://flickr.com/photo.gne?id=11528537854
Date picture taken
1928
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