Police Sgt. Rudy Flores said the wounded included the shooter, who was also reported to be in custody. He did not elaborate on the extent of the wounds.
Flores said numerous witnesses called to report that the shooting began with a man on a street corner near the college firing shots at vehicles, including a bus.
California Highway Patrol Officer Vince Ramirez said his agency began receiving 911 calls just minutes before noon.
"We understand one shooter was taken into custody shortly after we arrived," he said.
Ramirez said officers were searching the 38-acre campus after witness said there may have been a second shooter who fled onto the campus. He emphasized that those reports were unconfirmed.
Santa Monica College is a two-year college with about 34,000 students in an area of both residences and strip malls, a little more than a mile from the coastal city's beaches and pier. It is also about 3 miles from where President Barack Obama was attending a fundraiser Friday afternoon.
Secret Service spokesman Max Milien said the agency was aware of the shooting but it had no impact on the president's event.
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