The men, aged 26 and 24, were in a house in Melrose Street when three men armed with a knife, hammer and batons forced their way into the property just before midnight on Saturday.
After assaulting the men, the gang left with a sum of cash and personal items. They also smashed a number of windows.
The men in the house received medical treatment for their injuries.
Police have appealed for anyone with information to contact them.
Two men have been assaulted by an armed gang in south Belfast.