It happened just after 10:30 p.m. Thursday on the 1700 block of Watkins Street.
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Police said a car pulled up behind another vehicle and a gunman fired 35 shots.
Two of those bullets entered a home, hitting a man while he was watching TV.
"One of the stray bullets went right through the window and went right through the television he was watching. A second stray bullet went through another front window. One of those two stray bullets struck the 60-year-old," Philadelphia Chief Inspector Scott Small said.
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After the shooting, the targeted car crashed causing a passenger to suffer a leg injury.
The wounded bystander is currently in stable condition.
Police are still searching for the shooters.