The pavement began cracking last week, on the northbound off-ramp to Skirball Center and Mulholland Drive but Caltrans says the sinkhole emerged on Monday.
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Drivers are urged to find alternate routes, while crews repair the road.
Real-time traffic conditions can be found here.
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The city of L.A. says it has repaired more than 4,000 potholes ahead of this latest storm.
As of 6 p.m. Monday, the city had responded to 27 reports of fallen trees and branches and four reports of mudslides, according to Bass' office.
The Los Angeles Department of Water and Power reported 1,431 customers experiencing power outages, primarily in Brentwood, Granada Hills, Manchester Square and University Park, and 5,763 customers whose power has been restored.
A previously reported water main break in Hollywood that impacted 20 customers resumed normal service at 12:39 p.m. Monday with a cause deemed unrelated to the storm.
Dry weather with warming temperatures is expected to return Thursday and Friday, before another bout of light rain next weekend.
City News Service, Inc. contributed to this report.