4th & Market, San Francisco
Status:  Assuming the trolley car in the postcard is on Market St, it looks like this structure was torn down and a replaced with an office building. 

Argonaut Hotel - SF

“HOTEL ARGONAUT
GREETINGS
FROM CALIFORNIA’S
MOST POPULAR HOTEL
OWNED AND SPONSORED BY
THE SOCIETY OF CALIFORNIA
PIONEERS
Rates: $1.00 to $3.00 per day
EDWARD ROLKIN, GENERAL MANAGER
LEONARD J. MURPHY, MANAGER”
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