The incident occurred on the 300 block of North Monterey Street around 10:35 p.m.
Police responded to reports of shots fired and found an Asian male in his 40s suffering from multiple gunshot wounds to his upper body. He was found inside a vehicle parked in the garage of his apartment complex and was pronounced dead at the scene.
His name has not been released pending notification of kin.
Witnesses reported seeing an adult Asian male fleeing the scene in a white Mercedes Benz.
During the investigation, a loaded handgun believed to be the murder weapon was recovered a short distance from the location of the shooting.
Three persons of interest, including two males and a female in their 20s, were stopped leaving the area in a white Mercedes-Benz and subsequently arrested on suspicion of murder.
According to Alhambra police Lt. Sean Heckers, one theory detectives are working on is that the suspects followed the victim home as he left the restaurant he owns. Heckers says nothing was taken from the victim's home or car.
Police are still trying to figure out why the victim was targeted and whether he knew the suspects. The names of the suspects are being withheld pending further investigation.
Anyone with any information regarding the incident should contact Alhambra police at (626) 570-5168 or Sergeant Flannagan at (626) 570-5161.