The Frenchie, named Jennifer, was taken from the couple Sunday night. The owners are now pleading for Jennifer's safe return.
Surveillance video from the incident shows a car stop near Victoria and Wilcox avenues around 10:15 p.m. as Mario and Maria Felix were walking their dogs.
Mario said a man with a gun got out of the vehicle, confronted him and demanded his Rolex watch, phone, wallet and the French bulldog.
Despite begging the robber not to take Jennifer, Mario said the man pointed the gun toward him and grabbed the dog's leash.
By the time police showed up, the suspect had left with the dog. Police say the suspect also fled with Mario's watch and wallet.
The suspect vehicle is described as a silver Kia Optima with no back bumper.
The couple has two other French bulldogs and are devastated over the theft.
"I need her," Mario said fighting back tears. "We're always together when we're home ... We have cameras - we're always watching them during the day. We talk to them, we play with them over the phone."
Anyone with information is asked to contact Montebello police.