Police searched a Macpherson Street house about 10.20am Friday, allegedly locating three firearms, an energy conducted device, ski and camping gear believed to have been stolen, and various quantities of drugs.

Four men, all from Wodonga, were arrested at the scene.

Two men, aged 36 and 32, have been charged with offences including make explosive device, firearms offences, traffick ecstasy and possess prohibited weapon and were remanded to appear at Wodonga Magistrates Court on Monday.

A 34-year-old man was charged in relation to separate matters and also remanded to appear in court on Monday

Another man, 34, was charged with prohibited person possess cartridge ammunition and bailed to appear at Wodonga Magistrates Court on September 10.

The Bomb Response Unit was also called to the property after a suspicious item was located, which was rendered safe and the scene cleared.

Victoria Police wished to reassure the community the area had been deemed safe and there was no threat.

EARLIER: Police have found an improvised explosive, a pen pistol, ammunition and drugs during a raid at a Wodonga house.

About 12 police searched the Macpherson Street home on Friday as part of an investigation into a home burglary a week-and-a-half ago.

The discovery of the improvised device led to the bomb squad being called up from Melbourne to assess the item.

Police said the item didn't pose a threat to nearby residents.

Other weapons including a taser, pen pistol and a type of sword were seized.

A large cache of stolen items including chainsaws, ski equipment and assorted power tools were recovered at the scene.

Officers found so much property, a trailer was required to remove it all.

Police could be seen searching through a large number of bags which appeared to contain cannabis, pills and prescription medication.

Six vehicles were also searched.

The four occupants were arrested.

IN OTHER NEWS:

"It's a warning to people involved in this type of activity - you may not know when we're coming to pay you a visit," Detective Acting Sergeant Justin Foots said.

Multiple members from the Bomb Response Unit arrived at the scene in the early afternoon.

Volunteers from the State Emergency Service had attended a park across the road from the home and set up sandbags in case the bomb squad wanted to detonate the device.

Macpherson Street was closed while the scene was assessed by the officers.

Traffic diversions were put in place around the home.

Some of the four men arrested at the house had been wanted on warrants.

The exact charges were unclear but were likely to include handling stolen goods, weapon possession and drug offences.

Those arrested were aged in their 20s and 30s, and at least two lived at the derelict property.

"At this stage we're investigating one particular burglary," Detective Acting Sergeant Foots said.

"However we've recovered a substantial amount of property today.

"We will try to trace back where that's come from."

The discovery of the explosive device had restricted the ability of police to search an area of the house until it was deemed safe.

The stolen property was worth thousands of dollars.

Much of the equipment was related to camping with a generator and swags amongst the property.

Police did not expect to make further arrests.

Detective Acting Sergeant Foots said those at the home did not resist arrest when the warrant was executed.

"Primarily we were here looking for stolen goods," he said.

"We're really pleased with the result."

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