The shooting happened near the intersection of Sherman Way and Woodman Avenue.
According to Los Angeles police, the suspect was struck by gunfire and taken to a nearby hospital. Details on the person's condition were not immediately available.
Details on what led to the shooting were not immediately disclosed, but police confirmed three narcotics undercover officers were involved.
A perimeter was temporarily set up in the area while authorities searched for a second suspect. It was later confirmed two suspects were in custody.
No officers were injured in the shooting, police said.
Sherman Way was expected to be closed through at least 4 p.m.