The incident was first reported around 5:00 p.m. in front of a store in the 100 block of Geary.
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Police say the shooting was the result of an altercation between two men, but it is unclear why they were fighting.
The 21-year-old was rushed to the hospital in critical condition where he later died, SFPD said.
One suspect is in custody.
No further details were released.
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Stay with ABC7 News for the latest details on this developing story.