Authorities said one man and six women were shot during the incident at around 12:30 a.m. Police believe two gunmen are responsible for the injuries.
One of the victims was shot in the stomach, while the others were shot in the legs, said police.
The gathering was apparently being held to raise money for a gang member who had been killed.
"We were just having a good time dancing, and we just heard shooting and our guy friends covered us, but I don't know how she got shot," described a partygoer whose friend was one of the shooting victims.
It is not clear if the shooters were outside of the party when it happened, or if they were in attendance.
Police were working to get a description of the shooters.
If you have any information regarding this shooting, you're urged to call the Los Angeles Police Department's Southeast Division at (213) 972-7828.