Officers rushed to Milton Crescent, Gants Hill, shortly before 2pm on Thursday (September 4) where they found two men injured.
A 41-year-old man had suffered a stab wound and a 35-year-old man had been hurt by a pellet gun.
Both were treated at the scene before being taken to hospital, where their injuries were confirmed as not life-threatening or life-changing.
The suspect, a 33-year-old man, was arrested on suspicion of possessing a firearm.
He is also in hospital with injuries sustained during the altercation, although the severity is not yet known.
Emergency crews, including London’s Air Ambulance, were called to the scene.
Three patients in total were taken to a major trauma centre.
Police said they believe the incident was isolated and no other suspects are being sought.
A crime scene remains in place while enquiries continue.
