Police say one of the victims was found in the front room inside the main house and the other two were found in a converted garage in the back.
The two dead women had their throats slashed. A third woman is hospitalized with serious cuts to the upper torso and wrists.
Authorities say the injured woman, who underwent surgery Wednesday night at Holy Cross Medical Center, is a person of interest in the case.
"She is a person of interest until we establish her role in this incident. As soon as she is cleared medically our detectives will be speaking to her. Right now our detectives are processing the scene looking at the residence," said LAPD Capt. Ivan Minsal. "We have secured a search warrant to go in. We are trying to establish who lived there and where they are to insure their safety."
Officials believe that all three women may have been related. Anna Maria Fuentes fears the dead victims are her niece's teenage daughters.
"Well believe that there were four women living at the location -- a grandmother, a mother and two daughters. At this point we have not positively identified the two decedents, so we're not sure whether the two younger daughters are outstanding," said LAPD Lt. Scott Mallory.
Another relative says the mother felt burdened by financial pressure. The family had lost their home and had contacted a homeless shelter for assistance earlier this week.
Authorities say there is no outstanding suspect at this time. They are asking anyone with information to call the LAPD Foothill homicide division at (818) 834-3115.