The shooting occurred shortly before 6:30 p.m. beneath the 10 Freeway, near Normandie Avenue and Washington Boulevard in the West Adams neighborhood.
Neighbors said they were stunned by the sudden violence.
"My kids were playing outside and then they heard gunshots so that's when they came back in. I went outside to go see what was happening, and I see a guy on the floor and firefighters doing CPR on him," said Hazel Flores, who lives nearby.
Los Angeles police Capt. Mike Bland said the initial reports indicated that a man armed with a baseball bat was swinging it at people and had struck occupied vehicles.
Police said that when officers arrived, the man was still wildly wielding the bat, including at officers and bystanders. Police then opened fire and shot the man.
Flores recorded video showing paramedics performing chest compressions on the man before taking him away in an ambulance. Police said the man later died at a hospital.
The incident left residents concerned about safety in their neighborhood.
"You're in your neighborhood, you want to be safe, but then it makes you think twice. Should I even be outside? Should I even let my kids be outside?" Flores said.
The shooting also affected people nearby, including passengers aboard a Metro bus that was stopped within the crime scene. A minivan remained parked inside the investigation area hours later as police continued examining the circumstances surrounding the shooting.
It's unclear how many officers opened fire. An investigation is ongoing.