Witnesses said the two suspect in their late teens or early 20s confronted the teen, then shot him multiple times before running off.
His 15-year-old brother Mark Jacquez found him lying on the sidewalk.
"He was a good kid, you know. He was just following his brother, in my steps you know, trying to be like me," he said.
Jacquez was taken to St. John's Regional Medical Center, where he later died.
A pair of tennis shoes tied to a fence marks the spot where the Jacquez was murdered.
Dozens of officers are combing the neighborhood, trying to piece together what happened, but they have not determined a motive.
Police believe the suspects were gang members, but they do not believe Jacquez was a gang member.
There is a history of gang violence in the area, and many residents have learned to stay quiet, especially when police are asking the questions.
"It's frustrating. The areas that have problems are less likely to talk to us. The areas that are less subjected to violence, you know, then we'll get 20 witnesses," said David Keith from the Oxnard Police Department.
Local resident Bob Ramirez said he does not let his son play in the front yard because of the gang violence.
"I got to cover him up, I keep him in the backyard," he said.
There is a gang injunction in place in the area, and police said crime is much lower than it used to be.
No one has been arrested, and no suspect description was available.
Anyone with information is urged to call the Oxnard Police Department at (805) 982-7070.