Officers responded to an apartment building in the 800 block of South State College Boulevard around 3:40 p.m. Thursday, Anaheim police Sgt. Jon McClintock said.
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When police arrived, they found a woman in her 60s who was shot. She was taken to a hospital where she later died.
Video showed a large law enforcement presence at the scene, including a SWAT team. At some point, the suspect reportedly barricaded himself in his apartment.
An hours-long search in the apartment complex ended around 9:30 p.m. when SWAT officers entered the suspect's unit and found him dead from a self-inflicted gunshot wound, police said.
McClintock said the suspect and the victim knew each other, but further details about their relationship were not disclosed.
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A witness said he was talking to the apartment manager when she was shot.
"A guy just came up to her, that lives there, and shot her four times. Close range," Joe Guerrero said.
Several residents who were evacuated during the standoff were later allowed to return to their homes.