Masked thugs armed with a gun and knives surrounded a car the three men were sitting in on Denbigh Street in Bordesley Green, Birmingham.
The gang then opened fire on the trio, hitting two of them in the arms, while the third man was stabbed.
After the attack, the gang are believed to have escaped in up to three separate vehicles.
West Midlands Police have started a manhunt for those responsible for the attack, which took place just before 9pm on Friday.
A police cordon still remains in place at the scene, next to a children's play area and close to Bordesley Green Girls' School.
A spokesperson for West Midlands Police said: "We’re investigating after three men were injured after being attacked in Denbigh Street, Bordesley Green, at around 8.45pm yesterday.
"They were in a car when a group of masked men - armed with a gun and knives - surrounded them.
"A man in his 30s and another in his 20s suffered gunshot wounds to their arms; while another suffered stab injuries to his arm. Their injuries are not believed to be life-threatening.
"The attackers fled in up to three vehicles and enquiries are ongoing to identify them.
"CCTV is being examined and anyone with information can contact us via Live Chat, or by calling 101. Quote 20BW/232481T/20."
Alternatively, contact Crimestoppers anonymously on 0800 555111 or at crimestoppers-uk.org
Denbigh Street, a residential street with around 40 houses, remains closed off, with the police cordon running the length of the road.