The shooting happened around 6 p.m. Friday in the area of 58th and Trinity streets.
Police said a 26-year-old man was shot four times, twice to the chest, once on the left forearm and once on the right armpit.
A 50-year-old woman was shot three times, once in the chest, right arm, and the left arm.
A 27-year-old man was wounded in his right thigh.
Police said Saturday afternoon that all three were hospitalized in stable condition.
The suspects have been arrested, police said.
"Excellent work by (12th District Police) and Southwest Detectives led to a quick apprehension of the shooters," Philadelphia Inspector Derrick Wood said.