Authorities said a police officer and two innocent bystanders were wounded in the shooting.
Police officers were called out to an apartment building in the 100 block of East Newmark Avenue for a report of a stabbing. According to Los Angeles County Sheriff's Sgt. Michael Thomas, when officers arrived, they saw a man stabbing another person.
"It apparently involved a road-rage incident," Thomas said.
Authorities said the suspect, identified as 63-year-old Edgar Battad, went inside an apartment, grabbed a pistol and began firing at police before fleeing. Officers chased after him, and a running gun battle unfolded.
"I heard a gunfire exchange, at least 10 to 20 bullets," said witness Betty Hau. "I was across the street trying to run away from the other side."
Ten bullets pierced a security door and nearly two dozen hit the window of an apartment building and shattered a car's rear window.
Police shot and killed Battad and the hail of gunfire also hit two bystanders in the legs. Officials said the victims' injuries are not life-threatening. It is unclear if it was gunfire from police or Battad's .44 Magnum that hit them.
Police said a bullet from Battad's gun also grazed veteran Officer Gilbert Alvarez in the head. He was taken to the hospital, where he was listed in stable condition.
The stabbing victim was listed in stable condition at Los Angeles County-USC Medical Center.