The shooting happened just before 11:30 a.m. in the parking lot of the Universal/Studio City Station Park-and-Ride, just off Ventura Boulevard and near Universal Studios Hollywood.
When officers arrived, they found the victim -- who they say was homeless and living in a nearby encampment -- dead with a gunshot wound.
At last check, police said they were still looking for a suspect.
No further information about the accused shooter or the victim has been released.
LAPD says they do not believe there is an ongoing threat to the community.