One of the men, aged 32, was at the Hardy Street unit when police and paramedics went there at 9.20am yesterday, following reports a woman had been found unresponsive.
Paramedics were unable to revive her and she was declared dead at the scene.
She has yet to be formally identified but is believed to be 19.
The 32-year-old – who was wanted on an unrelated outstanding warrant – was arrested at the scene and taken to Waverley Police Station.
Police established Strike Force Eacham to investigate the incident and within hours, another raid was conducted in nearby Flood Street, Bondi, at 5.10pm.
During the search, police seized one gram of methylamphetamine and cannabis and arrested a 34-year-old man.
He has since been charged with two counts of possessing a prohibited drug.
The 32-year-old has been charged over the outstanding warrant for larceny with a value of up to $2000 and a number of other charges including resisting a police officer and destruction of property.
He has been refused bail and will appear before Downing Centre Local Court today, while the older man was released and is scheduled to appear on June 18.
A post-mortem examination will be conducted to determine the young woman’s cause of death.
Investigators are considering a number of lines of inquiry, including that she died by misadventure.
