Police were called to Tremont Street by paramedics who found the man in cardiac arrest at around 7am on Saturday.
The man, believed to be in his 30s, was found on a piece of grass outside Tremont House, Heath Town.
His death is not believed to be suspicious, but detectives are investigating and forensic teams are combing the scene.
Tremont House is a multi-storey apartment block between Wednesfield Street and Tremont Street.
A police spokesperson said on Saturday: "We were called just after 7am this morning by the ambulance service to reports of a man's body on Tremont Street.
"Nothing could be done to save the man who is believed to be in his 30s. His death is not believed to be suspicious.
"Our thoughts are with the man's family and friends at this sad time. Formal identification and a post mortem will take place in due course."
West Midlands Ambulance Service spokeswoman Claire Brown said: "Two ambulances and a paramedic area support officer attended the scene.
"Crews arrived to find a man in cardiac arrest. Sadly nothing could be done to save the man and he was confirmed dead on scene."
A white police tent has been put up and Tremont Street remained closed on Saturday afternoon.
The news comes in the same week that the bodies of Dave and Chev Cooke were found in a car in Wolverhampton.
The couple were found near Greenfield Golf Club on Wednesday. Their deaths are also not being treated as suspicious