It happened around 8 p.m. on the 1500 block of North 29th Street.
Police say four males were injured in the shooting, including a 17-year-old, two 18-year-olds and a 21-year-old.
All four victims were taken to Temple University Hospital and placed in stable condition.
According to Philadelphia Chief Inspector Scott Small, at least 24 shots were fired from two separate caliber semi-automatic weapons.
"So it appears there may have been some sort of shootout," said Small.
Philadelphia police provide update on quadruple shooting
Police say a stray bullet entered a nearby home, but no one was struck.
"One bullet went through the front window and that bullet passed through the living room and dining room, went through the kitchen wall, went through a bedroom wall. That bullet traveled into four separate rooms on the first floor of that property," said Small. "There was one adult male in that property at the time. However, he's very, very lucky because...(he) was not struck by gunfire."
No arrests have been made.
Anyone with any information is asked to call police at 215-686-TIPS.
Confronting The Crisis: Gun Violence