The discovery was made in the 5700 block of Mesmer Avenue around 7 a.m.
Police said the body was burned beyond recognition and found seated upright against a chain-link fence by a security guard.
It is not clear when the crime occurred, according to police. Arson investigators say the death was likely a suicide.
"We still have some avenues to explore, but at this time we are ruling out any type of homicide, some type of liquid was found near him that will be sent to our lab to be analyzed," said Michael Rueda, an LAFD arson investigator.
The victim's name or age was not released. The man's body was too badly burned to be immediately recognized.