More details have emerged after a man was killed in what police suspect was a "targeted" shooting in Melbourne's CBD in the early hours of Sunday morning.

Emergency services were called to the corner of Franklin Street and Elizabeth Street about 4.20am after reports of a gunshot.

Police believe a 26-year-old man was standing with three male associates outside a residential apartment building in the CBD when he was shot by a person in nearby car, about 3.40am.

The man was taken to Royal Melbourne Hospital by the three men, but the 26-year-old succumbed to his injuries not long afterwards.

Speaking at a media conference, Detective Inspector Graham Banks said police believe the shooting is likely a "targeted incident".

"It appears, in this instance, the parties are likely to be known to

See Full Page