The Houston Police Department said the deadly crash happened on Fannin Street at about 9:10 p.m.
Investigators said a four-door sedan collided with a silver BMW 650i in the intersection of Fannin and Blodgett Street.
While driving away from that crash, the sedan drove onto the sidewalk and hit three pedestrians, according to police.
A 55-year-old man was pronounced dead at the scene, and two other victims were taken to the hospital in serious condition.
HPD said investigators are looking for surveillance video and witnesses. Residents who live nearby told ABC13 that the area is extremely busy with traffic, and they are not surprised by the crash.
"There's a lot of traffic during the day. You got to be careful going across the streets," Gabrielle Gonzalez, who uses a wheelchair and lives in nearby housing designed for veterans, said. "Those of us in wheelchairs, we have to worry about not getting hit. 'Not targets or hood ornaments,' as they say."
HPD Lt. Y. Ramirez said the man who died was possibly homeless and well-known in the community, but his identity is pending verification by the Harris County Institute of Forensic Sciences.
Anyone with information on the wanted driver and/or vehicle is urged to contact the HPD Hit and Run Unit at 713-247-4072 or speak anonymously with Crime Stoppers.
Information leading to the charging and/or arrest of any felony suspects may result in a cash payment of up to $5,000.
Tipsters must contact Crime Stoppers directly to remain anonymous and to be considered for a cash payment by calling 713-222-TIPS (8477), submitting an online tip, or through the Crime Stoppers mobile app.
For news updates, follow Miya Shay on Facebook, X and Instagram.