The victim, 23, was shot multiple times by an unknown suspect on Jessie Street, between Fifth and Sixth streets, at about 2 a.m., Sgt. Michael Andraychak said.
He was originally taken from the scene by a private car, before police from the University of California at San Francisco found the car near Third and Mariposa streets, Andraychak said.
UCSF police called for an ambulance that transported the victim to San Francisco General Hospital, where he later died, he said.
Another victim, a Richmond man in his 20s, was transported to a local hospital, where he is being treated for injuries that are not life-threatening, Andraychak said.
The suspect, who ran from the scene, is described as a black man in his 20s, he said.
It is unknown if a vehicle was involved.
No other information about the victims or the suspect has been released.
The shooting is being investigated by San Francisco medical examiner's office and the San Francisco Police Department's Homicide Detail.