It happened at the Campus Crossing apartments on East Cornwallis Road near North Carolina Central University.
Officers found 23-year-old Demario Lucas' body lying in a breezeway. He was pronounced dead at the scene.
A second man was taken to the hospital for treatment of a gunshot wound to the ankle.
Residents of the apartment complex told ABC11 that Lucas died when shots were fired at a party. Although the apartments are popular with students at NCCU, school officials told ABC11 that the victim was not a student of theirs.
Twiwan Joyner said he was a DJ at a party in the neighborhood when shots rang out.
"All of a sudden people started fighting and then somebody said duck down, when I ducked down all I heard was gunshots outside," Joyner said. "When I walked downstairs, we had to walk over the guy that got hit. He was right at the bottom of the stairs and we had to step over him, and all of his friends was just walking back and forth screaming for help."
Partygoers who were there to celebrate N.C. Central's homecoming described it as a terrifying scene.
"I was actually scared because I've never witnessed anything like this up close. I've seen it on TV, but never up close, face to face," partygoer Siobhan said.
No charges have been filed at this time.
Anyone with information is asked to call Investigator S. Pate at (919) 560-4440, ext. 29332 or CrimeStoppers at (919) 683-1200.