Eugene Aversa, 21, of the 2700 block of South 18th Street and Julien Ortiz, 21, of the 2200 block of South Clarion St. were arrested for allegedly slashing tires along the 1600 block of S. 10th Street.
Affected residents say they went to sleep on Saturday night only to wake up Sunday morning to find the damage.
Aversa has been charged with possession of an instrument of crime, criminal conspiracy and criminal mischief while Ortiz faces criminal conspiracy and criminal mischief charges.
Police are trying to determine if the two are responsible for other acts of car vandalism in the city.
Residents in several Northeast neighborhoods have been victimized over the past few months.
Police have made one arrest. Quincy Kramer, 20, of the 3300 block of Englewood Street in Philadelphia, was arrested last week for his alleged involvement in the slashing of nine tires in the 3300 block of Cottman Avenue, police said.