The incident had prompted two nearby schools to go on lockdown for several hours. The lockdown at Selma Avenue Elementary School was lifted at about 1 p.m., according to Los Angeles School Police.
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"A police investigation is still ongoing. LA School Police will remain at the school," the agency said in a tweet.
Larchmont Charter School's Selma Avenue campus was also placed on lockdown during the barricade situation.
Los Angeles Police Department officers responded about 8:30 a.m. to a report of a man with a gun in the 1600 block of Schrader Boulevard, the agency said. A SWAT team was summoned to the scene.
The schools were placed on lockdown as police positioned themselves behind the suspect's vehicle, which was parked in a parking lot.
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Paramedics were sent to the area on standby, and some streets were closed, including Hollywood Boulevard between Cherokee and Wilcox avenues, the Los Angeles Fire Department reported.