Richard Terrance Knight was discovered by officers responding to a disturbance call at about 10:30 p.m. Monday at the Chappell Hill Apartments at 3009 Ira Young in Temple.
Knight, 61, had been stabbed several times, police said.
Officers attempted to perform CPR, but were unable to save Knight's life.
A popular musician who had been out the business for several years, Knight first came to fame with "Terry Knight and The Pack". He later managed Grand Funk Railroad, but left after disputes with the band.
Band member Don Brewer told News 10 that he is "shocked" by Knights death.
"Terry was very instrumental in creating and marketing Grand Funk Railroad," Brewer said.
The two had not talked in more than 30 years.
Knight was born Richard Terrance Knapp April 9, 1943 in Flint, Michigan. He later changed his name and went by Terry Knight.
Knight lived in the apartment with his daughter and her boyfriend, Donald Alan Fair, 26, who is charged with the murder.
Knight's murder is the first in Temple this year.