Oil tycoon Edward L. Doheny commissioned the theater's construction; local architectural firm Morgan, Walls & Clements designed it in the Churrigueresque style.

The venue was originally called the Doheny Theatre but was renamed in honor of New York playwright David Belasco during the development phase.

[1][2] In the 1930s, the Belasco was a participant in the New Deal-era Federal Theatre Project, a program created to boost the arts after the Great Depression.

In 1948, the Doheny family estate sold the Belasco to Belco Properties, which intended to use the space for burlesque shows and film screenings.

[1] Days after its closure as a theater, the Belasco building was reopened by the Immanuel Gospel Church, which had purchased the property for US$200,000.