Two men have been bashed and stabbed with knives and screwdrivers in what police have described as a random incident in Reservoir overnight.

Three offenders wearing balaclavas knocked on the door of an Excelsior Street home before forcing their way inside just after 1am.

Acting Detective Senior Sgt Phil Crawford from the Serious Crime Taskforce in Mill Park told Neil Mitchell both residents were assaulted, one received a laceration to his head and possible broken nose, the other lacerations to his head and a 20cm stab wound to his abdomen, with blood on his lungs.

“Early indication is that it’s not targeted, which is fairly concerning for us,” Snr Sgt Crawford said.

“The second occupant came through and was dragged through the house and stabbed.

“They took about $2500 and a collectors 100 year anniversary Gallipolli ring which is worth about $2000 from a bedside drawer.”

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The offenders also stole a black Ford Mustang, which was recovered and the driver arrested this morning.

We found it in St Kilda this morning, a young fella has tried to avoid being apprehended driving that,” Snr Sgt Crawford said.

“And he’s a suspect in the aggravated burglary?” Neil asked.

“He certainly is.”

The 25-year-old Tarneit man is assisting police but two offenders remain outstanding.

Snr Sgt Crawford said the victims believe they might have been of Pacific Islander appearance.

The residents are recovering in hospital.

3AW Police Reporter Pat Mitchell told Ross and John what neighbours have revealed — click PLAY to listen