"Officers arrived and were met by family members who exited the residence and said there was people inside," said Downey Police Lt. Phil Rego. "The officers entered the residence and found one person deceased."
Police think Franco interrupted a home-invasion robbery and a shootout ensued.
A second suspect is wanted in the incident.
Downey Police called for assistance from the L.A. County Sheriff's Dept. SWAT team as they searched the area Wednesday morning for the second suspect.
The suspect remained at large Wednesday afternoon.
Anyone with information on the case was urged to call Detective Sam Gatfield at (562) 904-2391, or Detective Maria Villegas at (562) 904-2324; or Crime Stoppers, (800) 222-TIPS.
City News Service contributed to this report.