It happened around midnight in the parking lot of the Brentwood West Apartments in the 3800 block of Brentwood Road, near Capital Boulevard.
When police officers arrived at the scene, they found 19-year-old Trevon Shaihid Beard's body beside a parked vehicle.
A second man, 20-year-old Isaiah Marquice Beverley was later located at Duke Health Raleigh after being dropped off there with a gunshot wound to his shoulder.
He was then transferred to WakeMed Hospital and placed in police custody in connection with Beard's death.
Following an investigation, authorities also arrested two brothers -- 17-year-old Bionta Eugene Bryant and 19-year-old Robert Alphonso Bryant -- at a motel on Appliance Court.
All three suspects are facing murder charges.
Details surrounding the shooting have not been released, but police have said the crime was not random. An investigation is ongoing.