The shooting happened around 5:20 p.m. in the 4600 block of Cahuenga Boulevard, north of the 134 Freeway.
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Los Angeles police say three men are wanted for the shooting. They allegedly fled in a car after gunfire erupted.
The male victim was hospitalized in unknown condition.
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LAPD cordoned off the area for an investigation.
April Davis lives across the street and stepped outside to a terrifying scene after the shooting.
"I ran out my front door, and I saw the victim lying on the sidewalk," she said.
Last week, three people were shot and killed in the area of Moorpark Street and Lankershim Boulevard, just blocks away from Thursday's shooting in Toluca Lake.