Police say three men armed with guns and wearing balaclavas broke through the back door of the home in Foveaux Avenue, Lurnea, about 9:00pm (AEDT) yesterday.
They allegedly tied up the elderley couple before stealing jewellery and other items.
The man received a cut to his face and both victims were taken to Liverpool Hospital with minor injuries.
All three men are described as looking Mediterranean or Middle Eastern and in their early 20s. One of the men was wearing a navy-blue shirt and grey-and-white army-style pants.Michael Mamoud says he played dead after he and his wife were tied up and assaulted during a home invasion in Sydney's southwest.
Michael Mamoud, 70, and his wife, aged 72, were tied and bound by a gang of three men who were wearing balaclavas and armed with pistols.
Police said the men ransacked the wealthy couple's Lurnea home looking for gold and jewellery after forcing their way through the back door at about 9pm (AEDT) yesterday.
Mr Mamoud said the robbers bound their feet and hands with cable ties, but he was able to break free.
"I grabbed the gun and said 'Stay back or I'll blow your head off' and they said 'No, no, no, it's not loaded', but I looked in his face and from his eyes he was scared,'' Mr Mamoud told Network Ten.
He said one of the men hit him in the face with another gun, giving him a bloody nose before he played dead.
"They said 'The man has died, we have to go','' he said.
Mr Mamoud suffered minor facial bruising and required three stitches to his nose.
Mr Mamoud's son Sam Bargshoon said the attackers were worse than animals.
"Today it's my father, tomorrow it's going to be your father, or someone else's father, or someone else's mother,'' Mr Bargshoon said.
Mr and Mrs Mamoud were taken to Liverpool Hospital with minor injuries.
Superintendent Mick Plotecki from Liverpool police said the robbery had all the hallmarks of a well-organised attack and that the men may have even known the couple.
"It looks like a very well-organised set of offenders. They came with cable ties, weapons, they were balaclava'd up,'' he said.
"They are reasonably wealthy, elderly people so I think they targeted them specifically.''
Police believe the trio may have used the M5, just behind Foveaux Ave, as a getaway route.
All three robbers were described as Middle Eastern or Mediterranean in appearance and in their early twenties.
One of them wore a navy blue shirt and grey and white army-style pants.
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