This former theater was bought in 1984 by Judge John Phillips Jr., the self-christened "kung fu judge" who taught a martial arts style he called the “Gorilla-Gnat System of Scientific Movements and Defensive Fighting". And things have only gotten crazier from there.
The linked article also mentions a second theater, known as the Black Lady, bought by Judge Phillips. I learned a little more about its location from this earlier piece about the Slave saga, and realized that it is the theater referenced in the sign above these murals! Like the Slave #1, it's been closed for quite some time, which unfortunately means I'm probably never gonna get a look at Mom's Living Room.