The collapsed portion comprised washrooms on the top floor of the building, located in Bhorapir locality.
Two persons suffered minor injuries in the incident and were shifted to Civil Hospital, according to rescue workers.
Giving details of the incident, people of the area said that a portion of the four-storey Maqbool Building collapsed at around 3pm, damaging the only staircase of the building, which housed 14 flats. Many of the occupants were stranded inside, they added.
The stranded people were later rescued by the fire department safely.
Deputy Chief Fire Officer Naeem Yousaf told Dawn that the building was already in a rundown condition and after the collapse, living in it anymore would be extremely risky.