The crash happened just before 11 p.m. Saturday in the southbound lanes near Stevens Street.
According to police, a 17-year-old boy and a 19-year-old man were in a white car driving in the outer lanes of the Roosevelt Boulevard near Devereaux Street when they collided with another car.
Family members have identified the victims as 17-year-old Nick Sy and 19-year-old Bao Tran.
The impact of the collision sent their car into a tree before ultimately crashing into a home on the corner of Roosevelt Boulevard and Stevens Street.
Both Sy and Tran were ejected from the car. Police said one was sent into the home and the other landed in the street. Both teens were pronounced dead at the scene.
The passenger in the second vehicle had minor injuries. The driver was not hurt and stayed at the scene.
Neighbors told Action News family members were at the scene of the crash Saturday night.
"The most loving person in the world," they said. "We shared a lot of joy and laughter."
Friends of Tran say he had a passion for cars. Fellow motor car enthusiasts lined up, some playing music during an emotional memorial Sunday night.
"(Bao) was a good guy he was humble," said Nelson Wynder.
"He was so nice to me. He offered to drive me to school if I needed to go to school," said another friend of Bao's.
Police are still early in the investigation but believe at the time of the crash Tran's car was traveling at a high rate of speed.
Last month Philadelphia City Council voted to install speed cameras along this 12-mile stretch of roadway, hoping to prevent accidents along Roosevelt Blvd.
Those cameras are expected to be installed by the end of the year.