The 52-year-old was found with multiple stab wounds in June 1987 in a Sacramento, California, alleyway along with another man who was treated by emergency personnel and survived.
Detectives at the time determined both victims and a third unknown man had been drinking beers in a carport and for unknown reasons, Schultz and the suspect began arguing, leading the suspect to stab both of them.
But he was gone by the time emergency crews arrived, and the case remained unsolved. But, now almost 25-years after the murder Cops have picked up 48-year-old Gregory Samuel Olguin.
as they say DNA was a match to evidence collected at the scene.
Sacramento Police spokeswoman Laura Peck said: "He matched the description to a "T", so that was another way we connected him to the crime.
"However, it was the DNA that was crucial in solving this case."
However in an jailhouse interview with News 10 Olguin denied having killed Schultz, but admitted he may have met the man.
He told them: "It's been so long since I've been down there. I mean, I did a lot of messed up things in my life, but not this. No."