The San Fernando Building was built by Col. James B. Lankershim, one of the largest land-holders in the state of California. Construction of the first six stories of the building began in 1906 by C. Wesley Roberts Construction Company. Los Angeles consulting engineer and architect, John F. Blee, planned and superintended the construction.

The structure was built at an estimate cost of $200,000, increasing assessed property improvement values from $7,500 in 1907 to $125,000 in 1908. The offices were open for tenants on October 1, 1907 and were among the finest in the city. Two additional stories, designed by Robert Brown Young & Son, and constructed by George D. Hulbert, were added in April 1911. The building has a colorful history.

About 1910, the building achieved notoriety as businessmen engaged in gambling activities in Rooms 637, 638 and 639. The police raided these gaming rooms a number of times, but their attempts were foiled by an extensive "tip-off" network.