The drive-by shooting was reported on the 1300 block of Redondo Boulevard near Pico Boulevard around 11:30 a.m.
Police say one victim was pronounced dead at the scene. The other victim was transported to an area hospital and was last listed in stable condition after undergoing surgery. The deceased victim was a 17-year-old male who just graduated high school.
According to friends, the 17-year-old used to live in the neighborhood and often returned to visit.
Officers are looking for four male African-American suspects who were seen leaving the area in a silver or white four-door sedan, possibly a Nissan. One suspect was wearing a white T-shirt; another suspect was seen wearing a black T-shirt.
Police are investigating whether the shooting was gang-related.
If you have information related to the case, contact the Los Angeles Police Dept. at (877) LAPD-24-7.