A neighbour said police first arrived yesterday evening.
She said many residents of the street were transitory.
Police said the owner of the guns holds a firearms licence and the guns were securely stored.
"It is extremely important to recover any firearm that is in the wrong hands and police are investigating this crime as a matter of priority," Detective Senior Sergeant Kallum Croudis said.
We encourage members of the public to report any suspicious behaviour as they are often key in solving crimes like this one, he said.
Police would like to hear from anyone who has information that may be relevant to their investigation. That information could relate to vehicle sightings, or persons acting to hide, trade or sell these weapons.
Contact can be made with Detective Senior Sergeant Kallum Croudis by calling (03) 471 4800, or anonymously through Crimestoppers on 0800 555 111.