Three Albanian nationals, two 25-year-olds and a 24-year-old, were arrested on Sunday during a coordinated police raid in the Neos Kosmos district of Athens, a day after the trio and another man allegedly committed a "home invasion" in the eastern Attica prefecture.
The suspects are accused of armed robbery and grand auto theft.
An investigation is underway on whether the suspects are implicated in a string of recent home invasions in various upscale Athens neighbourhoods.
Two handguns, ammunition, burglary tools and masks were found in two residences.
According to reports, the 25-year-old was released from a prison in Grevena in December 2010 after serving a seven-year sentence for thefts and other crimes.
Meanwhile, in an unrelated development, a Georgian national was charged with no less than 73 break-ins of vehicles, mostly in southern coastal Athens.
The man, 28, had also been previously arrested but released on bail.