It is alleged the unknown man and a fellow offender broke into a unit on Blessington Street while a woman was inside on Monday 22 June about 3:10pm.
Investigators were told the men stole a female victim’s handbag containing bank cards before the unknown man fled in a white Holden ute with false registration plates SZB030.
The second man fled in another vehicle.
Bank cards stolen during the incident were later used at a number of businesses to purchase goods.
He is perceived to be Caucasian in appearance, aged in his 20s and has a slim build.
The second man, a 35-year-old from St Kilda East, has since been arrested and charged with aggravated burglary and assault-related offences.
The victim was not physically injured during the incident.