It happened at around 7 p.m. near Martin Luther King Jr. Boulevard and Trinity Street.
Det. Meghan Aguilar with LAPD said reports began coming in of a man armed with a handgun who was reportedly pointing it at passing cars.
A brief standoff between LAPD and the suspect ensued, though it only lasted a few minutes. Aguilar said the suspect was shot though she did not disclose the extent of his injuries.
The suspect remains hospitalized and is stable.
No officers were injured. They're still looking for the handgun reportedly used by the suspect.
The officers who were involved in the shooting have not yet been interviewed by detectives as of Tuesday night.
The incident remains under investigation.