The crash was reported around 3:40 a.m. AIR7 HD was above the scene and captured a white vehicle submerged halfway in the water just off Avalon Boulevard.
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Investigators said the driver hit the corner of a barrier wall, sending the vehicle into the water. The man, who has not been identified, was pulled out of the wreckage and was sent to the hospital where he later died.
The investigation into the crash is ongoing, but authorities said there was a witness who reported seeing the man speeding.
Los Angeles County firefighters searched for other victims but no one else was found, authorities said.
Rain was expected to persist Friday following off-and-on downpours that doused much of Southern California since Wednesday. Authorities said there was a light sprinkle at the time of the crash.
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The southbound lanes of Avalon Boulevard were closed due to the crash but have since reopened.
Anyone with information is urged to contact authorities.