LYNN – A special weapons and tactical unit, local and state police, the FBI and ATF all worked together to execute a search warrant Tuesday to get a high-capacity firearm and ammunition off the streets.While the officers kept watch over 189 Eutaw Ave. at about 6 a.m., several Lynn Police Gang Unit officers rushed to 13 Stone Place where police allegedly observed Anthony Acevedo, 21, standing outside the house while holding an AK-47 assault rifle.He was holding the rifle in one hand and a banana-shaped ammunition clip in the other, police said.When officers yelled, “Don’t move!” they said Acevedo dropped the weaponry and ran into the house. He was handcuffed a moment later without incident, police said.Back on Eutaw Avenue, the officers raided the house at about the same time as Acevedo’s arrest.Police said one of the residents, Robert Reynolds, 23, was the subject of the search because investigators thought he was in possession of the AK-47.According to a police report, many of the residents in both houses are admitted gang members. Evidence was found inside the Eutaw Avenue home, including an envelope addressed to 13 Stone Place, that link gang activity between the two addresses, police said.Inside the Eutaw Avenue home police allegedly found a 30-round banana-shaped clip inside a black storage container along with an open box holding 100 rounds of 12-gauge shotgun shells, numerous loose ammunition and a gun-cleaning kit among other items.Reynolds was arrested and charged with possession of a large capacity firearm feeding device and possession of ammunition without a license. He was arraigned Wednesday in Lynn District Court where Judge Ellen Flatley held him on $1,000 cash bail.Acevedo was arrested and charged with possession of a machine gun, possession of a large capacity firearm-feeding device, possession of ammunition without a license and an outstanding warrant for motor vehicle violations. He was ordered held by Flatley on $10,000 cash bail.The suspects are due back in court Dec. 11.