Los Angeles police said the victim was gunned down in the 12200-block of Burbank Boulevard.
Investigators believe the victim was involved in an argument with the suspect or suspects just before he was shot. According to police, the victim had removed a bicycle that did not belong to him from a rack, which may have caused the confrontation.
The suspect fled in a dark-colored vehicle. No suspect description was available.
The victim's name has not been released pending notification of next of kin.
Anyone with information is urged to call Det. Castro, Valley Bureau Homicide, at (818)374-1925.