Investigators said when officers arrived they observed two men in a nearby school and that one of them ran away.
Police later determined the man who remained had been the victim of a robbery. He told officers he had been robbed at knife point and approximately $400 worth of cash and property had been taken.
Police said the suspect was not apprehended at that time but was later identified by the officer and the victim as Oscar Borjon of Oxnard.
On Sunday afternoon, officers returned to East Elm Street and arrested Borjon.
Borjon was booked into Ventura County Jail and his bail is set at $50,000.
Officers said Borjon has ties to a local Oxnard street gang.
Anyone with information is asked to call Detective Charles Buttell at 805-385-7665.