Tianna Thomas was arrested Friday and is charged with murder, attempted murder, aggravated assault and other related charges.
Police said Thomas lived across from the sisters in the Brewerytown neighborhood.
The stabbing happened around 11:30 p.m. on August 19, in the 1500 block of North 29 Street.
Shawntae Garrison, 23, was found lying on the ground with multiple stab wounds, police said. She was taken to the hospital where she later died.
Garrison's sister, 28-year-old Tayshawn Layton, was also stabbed multiple times. She was taken to Temple University Hospital to be treated for her injuries.