The victims, a 20-year-old woman and a 19-year-old man, who is a member of the UNC football team, were not seriously injured, reports state.
The four men arrested were Altereak Riggsbee, 21, of 633 Shannon Drive; Louis Robinson, 21, of 801 Shannon Drive; Kenric Rountree, 25, of 2010 N.C. 54; and Henry Sanford III, 22, of 404 Jones Ferry Road.
Riggsbee and Rountree both were charged with one misdemeanor count of simple assault, injury to personal property and possessing and concealing a weapon, reports state.
Robinson was charged with one misdemeanor count of simple assault and possessing and concealing a weapon, reports state.
Sanford was charged with one misdemeanor count of aggravated assault, assault on a female, injury to personal property and possessing and concealing a weapon, reports state.
Reports state that the Sunday morning incident was believed to have started after a verbal confrontation between the four men arrested and the two victims.
Chapel Hill police spokeswoman Jane Cousins said the four men were arrested in the parking deck located at 150 E. Rosemary St. at 3 a.m.
Reports state that the individuals were found in a car that belonged to Sanford.
Upon investigation, officers found a handgun belonging to Riggsbee under the driver's seat.