The shooting happened just after 9 p.m. at the St. Moritz Gardens Apartments in the 14700 block of Washington Avenue.
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Police say both teens found shot at the scene were taken to the hospital, where one died and the other is in stable condition.
They are working on a motive for the shooting, and are also searching for at least one suspect.
Witnesses are asked to contact the San Leandro Police Department at 510-577-2740 and select option 8.
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Stay with ABC7 News for updates on this developing story.