Bullets tore through a Lovely Banks unit while two women and a nine-year-old girl were alseep inside early on Thursday morning.
Police said the unknown culpit fired two shots through a loungeroom window about 12.15am.
Emergency services arrived at the Haugh St home soon after.
The 54 and 34-year-old women and the girl were shaken but uninjured, police said.
Geelong Crime Investigation Unit detectives were investigating whether the shooting was a case of mistaken identity.
Police urged anyone with information to phone Crime Stoppers on 1800 333 000 or to lodge a confidential report at crimestoppersvic.com.au.