The pair entered the home on Franklyn Street near the Woodside ferry terminal at around 11 a.m., pointed a can of bear spray at a 19-year-old man, told him to get to the ground and tied his hands, say police.
The suspects then went through the house and took jewelry, electronics and cash.
The victim was not hurt.
The suspects covered their faces with bandanas and were wearing black clothes at the time of the incident, say police.
No arrests have been made.
This was not a random incident, say police.