According to Const. Manuel Couture of Montreal police, the men entered the home on Charton Avenue near Fleury Street around 1:30 a.m.
He said they beat up the 56-year-old man inside the apartment before taking off with a safe. Another man, aged, 58, was injured in the process.
Police located one suspect nearby, and a police dog found the second one hiding under a balcony. Both were arrested.
"The suspects knew what they were going to get. They had information about what was inside this rooming house," Couture said.