The fire broke out around 5:15 a.m. on the 5000 block of North Sydenham Street.
Firefighters battled the fast moving fire which caused smoke damage to neighboring homes. At least four people were displaced.
The Red Cross was called in to assist these residents.According to officials, the elderly man was injured and taken to the hospital. He was treated for smoke inhalation and listed in stable condition.
Investigators are trying to determine what sparked the blaze.