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Two teenagers have been charged with multiple offences after a four-hour siege in the Melbourne suburb of Carlton.COURTESY :9NEWS

Two teenagers have been charged with multiple offences after they were arrested over a four-hour siege in Melbourne where three armed men entered a housing commission block.

Heavily-armed police were called to 478 Drummond Street in Carlton after a member of the public sighted armed men about 2.45pm.

The surrounding area, including a school and childcare centre, was then put into lockdown for multiple hours.

Two of the men – aged 17 and 18 – fled the scene on foot together, but became separated as they were chased by police.

The 18-year-old was arrested on Princes Street just before 7pm, while the younger man was handcuffed on Rathdowne Street minutes later.

We’re not looking for anyone else. We haven’t recovered a firearm Senior Sergeant Mia Paterson said during a press conference yesterday.

The 18-year-old Carlton man has since been charged with home invasion, aggravated burglary and assault with a weapon.

He remains in custody and is expected to appear at Melbourne Magistrates Court today.

The 17-year-old was also charged with home invasion, aggravated burglary and the use of an unregistered hand gun. He will appear in the Children’s Court today.

Snr Sgt Paterson said last night’s arrests were a good result for authorities.

We were looking at this going for some time she said.

During the siege, residents were ordered to stay away from the building and the nearby area.

There were people talking and screaming local woman Maria said.

A local primary school and childcare centre were also evacuated after earlier being placed into lockdown for several hours.

Source: https://www.9news.com.au/national/2018/12/04/16/32/police-onscene-after-armed-trio-enter-melbourne-building-in-carlton