The shooting happened at about 1 a.m. Monday at the intersection of South Santa Fe Avenue and Porter Street, according to the Los Angeles Police Department.
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Two of the victims, a man and a woman, died at the scene. At least three were rushed to the hospital in various conditions, according to authorities. The majority of the injured victims were self-transported to the hospital, said LAPD Lt. Adkins.
The identities of the two deceased victims have not been released.
LAPD says that officers assigned to the Newton Area initially responded to an emergency call of an "ambulance shooting" at 15th Street and Santa Fe Avenue. When they arrived at that location, they heard several gunshots coming from the area of Santa Fe Avenue and Porter Street. When they got there, they saw a large crowd of people fleeing the area and were directed to multiple victims lying on the street and sidewalk on Porter Street between Santa Fe Avenue and Mateo Street.
Officers provided medical treatment to the victims until Los Angeles Fire Department personnel arrived at the scene.
LAPD says the victims were attending a New Year's Eve celebration at an underground party located in the 2300 block of Porter Street when a fight broke out between several people resulting in a shooting.
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The barrage of gunfire was captured on surveillance video, which shows dozens of terrified partygoers running for cover.
"I saw a girl that got hit, and then I saw the dead girl -- right here, in front of my car," said an Uber driver who gave his name as Mike B. He said he was caught in the midst of the gunfire as he was picking up passengers outside the massive party.
"There's a guy 20 feet to my left side and there's an SUV on the right side," Mike B. said. "I believe they were shooting at each other. Now, when I ducked, kind of instantly, I heard a lot more gunfire. I don't know where that other gunfire came from."
Family members at the scene told ABC7 that they rushed to the location after finding a disturbing video of the shooting on social media and believing their loved one may have been there.
"It was just running, people falling," said one woman, who declined to be publicly identified, describing the footage. "It was just hard to see."
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She said that police told them to go home and that they would receive a call about their family member.
No arrests have been made at this time and a description of the suspect or suspects was not immediately available.
Anyone with information regarding this incident is urged to call Detective Howarth with the Los Angeles Police Department, Operations-Central Bureau Homicide, at (213) 996-4143. During non-business hours or on weekends, calls should be directed to 1-877-LAPD-24-7 (1-877-527-3247). Anyone wishing to remain anonymous should call the LA Regional Crime Stoppers at 1-800-222-TIPS (800-222-8477) or go directly to www.lacrimestoppers.org.