Fresno police arrested 34-year-old Steven Smith and 37-year-old Michael Waiczis Saturday afternoon, near North Clark and East Iowa.
Officers went to the area after getting a call about a person armed with a gun. Then witnesses led them to the suspects' car.
Investigators say they found a loaded, concealed handgun, a straight razor, a large dagger, and several other knives in the car.
The 12 year old son of one of the suspects was also in the car.
Officers took him to a relative's house.