Two teenagers and a 20 year old were arrested last week for hiding a handgun and some cannabis inside a sock.
The pair were arrested on July 10, at about 7pm in Bates Crescent, Streatham.
Lambeth police said a group of young men fled once officers arrived at the scene.
A 16-year-old from Streatham, a 17-year-old from Tulse Hill and a 20-year-old man of no fixed address were all bailed to return to a south London police station on September 13.
An investigation is ongoing.
Anyone with information regarding the incident is asked to call police on 101 or Crimestoppers anonymously on 0800 555 111.
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