The incident began around 10:20 a.m. at the Vermont/Beverly Red Line station platform, LAPD Lt. Leticia Ruiz said at a press conference.
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Police say it started when the male suspect had some sort of physical altercation with a woman.
It's unclear what prompted that interaction, but that's when another man attempted to intervene, according to investigators. Police say the suspect brandished a knife at that man.
As he fled from the platform to the street, the suspect came in contact with a second man and stabbed him, police said. The condition of that victim was not known.
Raw: LAPD officers shoot stabbing suspect who got in physical altercation with woman
According to Ruiz, officers arrived at the scene and chased the suspect to a small parking lot on Vermont Avenue.
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The suspect hid behind a parked car and came out from behind with a knife in his hand, police said. That confrontation was recorded by a bystander who was on an upper floor of a nearby building. The video was obtained by ABC7.
The footage shows the man crouching near the car as two officers approach on foot, one of them with his gun drawn. The suspect briefly sits on the ground as the officers apparently issue commands.
The man then stands up and hides behind the car again. Both officers then point their guns at him. The suspect emerges from behind the vehicle and runs toward one of the officers.
That's when officers open fire, striking the suspect. He was taken to the hospital in stable condition, authorities. Neither of the officers were injured.
"Officers gave commands. The suspect produced the knife and an officer involved shooting occurred," said Ruiz. "The suspect was struck. He was treated by the fire department and transported to a hospital and he is listed in stable condition. No officers are reported injured at this time."
A knife was recovered at the scene of the shooting, police said.
A witness to the incident described what happened to Eyewitness News.
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"Cops asked him many times to lay down on the ground and drop the knife. He, at first, imitated, he laid down on the ground and put aside the knife. But then, when officers started coming closely to him, he grabbed the knife again and tried to step there maybe," said Iurii Sumaneev.
Detectives were not able to provide details on the condition of the man and woman injured by the suspect, but it appears the incident was a random act of violence.
"At this time, we don't know the relationships or motive of all the individuals involved. That it is going to be part of the investigation at this time," said Ruiz.
Ruiz also said that there may be more people hurt by the suspect, and the LAPD is encouraging them to come forward.
"There could be other victims. We ask that if you are a victim, please contact LAPD Transit Services Division," she said.