A man has been rushed to hospital after he was shot in the leg, the third violent incident on the same South Melbourne street in a week.

In the early hours of Friday, a man in his 40s was inside an apartment block on Park Street when he sustained a single gunshot wound to the leg and was taken to The Alfred hospital with non-life threatening injuries.

Police and emergency services were called to the apartment block about 2.30am and are investigating the exact circumstances surrounding the incident.

It comes after a young man was stabbed in a commission housing tower on the same street on Wednesday afternoon.