According to officials, the fire began at about 11:30 a.m. at the J. Frank Budd building in the 200 block of East Pearl Street.
Crews said heavy smoke was seen from the third floor of the building when they arrived. The flames were contained to one apartment.
One person was found dead inside the unit, and a second resident was treated for non-life-threatening injuries.
A total of 25 residents were displaced following the fire, officials said.
The cause of the fire remains under investigation, but officials said it appears to be accidental.