It happened just before 6 p.m. in the area of Bucks Meadows Apartments along the 3100 block of Knights Road in Bensalem.
Police were called to the scene for reports of a shooting in Building 7.
At the scene, officers found 40-year-old Jose Miguel Tenorio-Ruiz in the back parking lot suffering from a gunshot wound. He was transported to a local hospital where he was later pronounced dead.
The suspect fled the scene before police arrived, investigators say. Several witnesses, however, told police that the suspect was 31-year-old Abel Mendoza-Ramirez.
Mendoza-Ramirez is also a resident at the Bucks Meadows Apartment Complex, authorities say.
Officers say the victim and Mendoza-Ramirez had a physical fight moments before the shooting. After the altercation, the suspect reportedly went to his car and returned with a gun.
When Mendoza-Ramirez returned, the two allegedly exchanged heated words, and the suspect fired two shots near the victim.
Mendoza-Ramirez then allegedly shot Tenorio-Ruiz when the victim attempted to take the gun away.
That's when police say Mendoza-Ramirez fled the scene in a Ford van.
He was arrested just over an hour later by Newton Township police after officers said they recognized the suspect's car and initiated a traffic stop.
He has since been charged with Criminal Homicide, Murder in the First Degree, Murder in the Third Degree, and possession of an Instrument of Crime.