The investigation began on Friday when it was reported that a robbery had taken place at a property in Arlington Place, Hunslet.
Police said it was reported that the robbery had involved a firearm, but the 33-year-old occupant had not been injured.
Armed officers raided Shaw Mills in Armley Town Street, Armley, on Saturday in connection with the investigation.
Four arrests were made during the course of the day, resulting in two men - aged 54 and 58 - being charged with robbery.
A 31-year-old man was released but remains under investigation, while a 56-year-old woman was released with no further action.
Also in crime: Man carrying a knife is tasered in supermarket car park in LeedsNow police have charged a third man who was arrested yesterday when armed police descended on a caravan park in Baildon.
The 48-year-old, who is accused of robbery, is due to appear at Leeds Magistrates' Court tomorrow.