Officers said an unknown amount of suspects entered the home and shot the 20-year-old, whose real name is Bashar Barakah Jackson, according to Los Angeles police.
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He was transported to an area hospital, where he was pronounced dead.
Sources told ABC News this has been deemed gang related.
At least one suspect wearing a black ski mask was last seen fleeing on foot. Several people who were in the house were detained and then released, Capt. Steve Lurie, commanding officer of the LAPD's Hollywood Division, told a press conference.
Pop Smoke was recently arrested by federal prosecutors for allegedly stealing a black 2019 Rolls-Royce that he had borrowed for a music video in California.
He was one of five rappers the NYPD prevented from performing at the Rolling Loud hip-hop festival in New York City last October because they were "affiliated with recent acts of violence citywide."
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Pop Smoke came onto the rap scene in 2018 and broke out last spring with "Welcome to the Party" a gangsta anthem where he brags about shootings, killings and drugs.
Earlier this month he released the album "Meet the Woo 2," which debuted at No. 7 on the Billboard Top 200 albums chart. It was the follow up to his first official release," Meet the Woo," last July. He also had the popular hit "Gatti" with Travis Scott and Jackboys and "Dior."
Tributes to the Brooklyn native have been popping up on social media.
Nicki Minaj, who did a remix to "Welcome to the Party," posted on Instagram that "the Bible tells us that jealously is as cruel as the grave. Unbelievable. Rest in Peace, Pop."
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Republic Records also released a statement, saying "we are devestated by the news."
"Our prayers and thoughts go out to his family, friends and fans, as we mourn this loss together," the statement read.
The Associated Press contributed to this report.