Hello, Thank you for you query.
Bleeding from the penis can occur due to following reasons keeping your age in mind:
1. Urinary tract
2. Urinary Bladder Cancer
3. Urinary Tuberculosis
4. Local Urethral Damage
5. Due to intake of Beetroot or some Drug tablets that you may be on.
You will need to send the urine from microscopy study and culture to rule out any bacterial infection or atypical cells.
You may also need to get a Endoscopy
done to check for any growths in the bladder.
Please do get back to me in case of further queries.