Merseyside Police were called to Crete Towers on Jason Street, Everton, on Tuesday morning after someone noticed a strong smell coming from the building.
It comes two weeks after one of the biggest ever cannabis farms in Liverpool was found on the same street.
Police estimate the total crop had a street value of more than £1.3m and described the farms "a sophisticated and industrial-scale criminal set-up".
Det Insp Lee Wilkinson said: "This was an elaborate series of cannabis farms spread across four separate flats.
"We discovered a total of 339 plants but believe much more could have been grown."
Four cannabis farms have been found in flats at a tower block in Liverpool.