It is believed the blaze broke out at an abandoned building next to the complex shortly after 1 a.m. Wednesday in the 7400 block of N. Lankershim Boulevard.
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Video shows some apartment residents going door to door to wake up others inside, despite the danger of fast-moving flames.
Among those who ran out was a mother and her young children.
According to the Los Angeles Fire Department, 87 firefighters managed to extinguish the fire in under 40 minutes.
"Thank God for the fire department. They got here quick. I mean, they came in and took care of what they're supposed to do," said resident Moises Lerma.
One person was taken to a nearby hospital with minor burns. Two others who suffered minor injuries were treated at the scene.
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Arson investigators were working to determine the cause of the fire. A battalion chief said there was evidence of homeless activity in the fenced-off abandoned building.
Officials said four units were damaged in the blaze, and approximately eight people were displaced.
The Red Cross is helping families who lost everything.