Two 29-year-old Millgrove men, a 49-year-old Yarra Junction man, and a woman aged 37 from Warburton; were found in the vicinity of the property with suspected non-life-threatening stab wounds.
All four were taken to hospital for treatment and observation.
A 36-year-old Warburton man was arrested in relation to the incident and is currently assisting police with their enquiries.
The five people are understood to be known to one another.
Yarra Ranges Crime Investigation Unit detectives believe the altercation may relate to an incident earlier in the day in which a car was damaged at Wesburn.
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