Bank of America Building was built in 1914 as a four-story apartment complex, with a Bank of America branch on the ground floor and apartments above. Charles E. Toberman was the developer.

In 1935, Morgan, Walls & Clements remodeled the building into a one-story Beaux Arts styled bank. This building, along with Hollywood First National across the street, anchored the corner of Hollywood and Highland. It features classical detailing, with a decorated frieze, projecting cornice, its entrance and windows recessed between Corinthian pilasters, and a flat roof with red tile at the parapet.

In 1984, the Hollywood Boulevard Commercial and Entertainment District was added to the National Register of Historic Places, with Bank of America building listed as a contributing property in the district.

In 1992, a Ripley's Believe It or Not! Odditorium moved into the building, which remains open today and features a 20-foot model Tyrannosaurus rex bursting through the roof and chewing on a clock.

In 2001, the building was sold for $1.975 million ($3.4 million in 2023).

In 2024, Bank of America Building was one of four Hollywood and Highland buildings proposed for demolition to make way for a metro entrance on the K Line Northern Extension. The other buildings are 6806 Hollywood Boulevard, Hollywood Theater, and Lee Drug.

• List of contributing properties in the Hollywood Boulevard Commercial and Entertainment District