One of the five arrested is a leading member of the McCarthy Dundon gang. Two women were among those arrested.
A handgun was also recovered during the searches which were focused on Southill, Ballinacurra Weston and St Mary’s Park.
Those arrested were held at Henry Street Garda station under section 30 of the Offences Against the State Act.
Up to 50 gardaí under Superintendent Frank O’Brien, Supt Ann Marie McMahon, Detective Inspector Jim Ryan and Insp Tom O’Connor took part in the raids, which commenced at around 7am and continued into the early afternoon.
“The searches were part of our ongoing targeting of criminal elements in Limerick city,” said a Garda spokesman.
Armed members of the Regional Support Unit, along with the divisional search unit, took part in the operation. The Garda dog unit was also deployed in the house searches.
Since the Dáil passed new anti-gang legislation before the summer recess, gardaí in Limerick have been building up a huge database and files on known members of criminal gangs in the city.
The most recent shooting incident in the city involved three shots being fired into a house at Carew Park, Southill. Nobody was injured in the incident, which occurred at around 3am on Sunday. There were a number of people in the house at the time.
And after a series of burglaries on businesses and private houses in the city, the head of the city’s crime prevention unit, Sergeant Liam Sheehan said it would appear that some residents are being too considerate.
Sgt Sheehan said: “People in private estates sometimes don’t turn on alarm systems at night, fearing that a false alarm going off might annoy neighbours. There is no point in having a security system if you don’t use it.”