The incident occurred near South and East streets around 10:15 p.m.
Police say the car struck several parked vehicles, crashed through a wall and landed upside down in a backyard.
Two of the three occupants were ejected. A man and a woman were pronounced dead at the scene.
A third victim, identified as a 16-year-old male, was trapped in the vehicle and had to be extricated. He is listed in critical condition at UC Irvine Medical Center.
The relationship between the victims is unclear.
Police say the occupants of the house were not injured.
Authorities believe speed may have caused the crash due to skid marks and debris found at the scene. The investigation is ongoing