Located on Fair Oaks Avenue, it is considered one of the last single-screen theaters in Southern California and is listed on the National Register of Historic Places.

[4] The Rialto's architectural style was described in The Los Angeles Times as "an odd mashup of Spanish Baroque and Egyptian kitsch.

"[3] The theater has an orchestra pit and its original design featured balcony seating along both sides of a deep stage.

[5] It also featured a theater organ to provide music for silent films, and weekend shows were sometimes preceded by vaudeville acts.

Shomof indicated he will turn the property into an entertainment venue that will include a bar and possibly a theater to screen old movies.