The attack happened around 3:30 p.m. in the 2500 block of Hallmark Drive, police said. The suspect allegedly fled in the victim's gray, four-door 2004 Jaguar, which was later recovered on Carlmont Drive.
The San Mateo County coroner's office confirmed the victim died today and said his name is being withheld pending notification of his family.
Police identified a suspect last week and today named him as 21-year-old Tyler Hutchinson, a transient who is in custody in Yolo County on separate charges.
Police said the San Mateo County District Attorney's Office has reviewed the case and agreed to file criminal charges, including burglary, robbery and homicide against Hutchinson. He will be transferred to the San Mateo County jail at a later date, police said.
Police Chief Don Mattei said in a prepared statement, "The thoughts and prayers of this community are still with the victim's family. Though this is no time for celebration, our investigators should be commended for their tireless work on this case."
Mattei called the attack "one of the most disturbing things I've seen in my law enforcement career."
Police still ask anyone with information on the case to call the Belmont Police Department at (650) 595-7400 or the Belmont Crime tip line at (650) 598-3000.