The suspect arrested Monday was identified as Quentin Darnell Black, 31, of Moreno Valley.
He was booked for one count of vehicular manslaughter with gross negligence and one count of felony hit-and-run resulting in death or injury. Bail was set at $100,000.
The incident happened Saturday just after 3 p.m. Police say the driver of a 2012 Chevrolet Tahoe SUV was speeding nearby and lost control, slamming into and demolishing the guard shack at Century Villages at Cabrillo complex on San Gabriel Avenue.
The driver of the SUV fled the scene on foot. Police seized the vehicle.
The guard inside the shack, 54-year-old Derrick Smith of Los Angeles, was declared dead at the scene.
Residents of the complex described Smith as a friendly, hardworking father, who always greeted them with a smile as they entered the property. He worked more than one job to support his family.
Security guard killed in hit-and-run at Long Beach apartment complex
A small memorial with balloons and flowers have been placed at the site of the crash.
Anyone with additional information regarding the incident is asked to contact Detective Kelsey Myers or Detective Shawn Loughlin of the Long Beach Police Department Collision Investigation Detail at (562)570-7355.