Detectives say the group, who wore balaclavas and were armed with a gun, baton and machete, stormed a property on Fraser Street in Melton South at 4am on April 24 and demanded drugs and cash from those inside.
When the occupants – two women aged 44 and 67 as well a 31-year-old man – refused their demands, stating they didn’t have what they were asking for, they were assaulted.
The man sustained “a significant knife wound” to his face and was later transported to hospital for treatment. Then women suffered minor injuries.
After searching the property, the men found a safe and stole a significant quantity of jewellery.
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They then fled on foot before stealing a white Volkswagen Polo from the address, which was later found burnt out on the North Shore.
Police say another vehicle, a White Mazda CX-5 with a sticker on the back windscreen, was also later used by the group.
Investigators are keen to speak to anyone with any knowledge of the incident on Monday, April 24 or who may have been in the area with dashcam footage.
Police say the incident was a targeted attack.