A light anti-armor weapon (LAW), a shoulder-held missile, was found on Sunday morning concealed in the bushes outside the home of underworld figure Asi Abutbul in the Ramat Poleg neighborhood of Netanya.
Abutbul is currently abroad, Army Radio reported.
Bomb sappers and ambulances arrived on the scene.
Police believe that the five men arrested several weeks ago in Netanya on suspicion that they planned to assassinate Abutbul, hid the missile. Police searched the vehicles of the suspects - whom they suspected were hitmen working for rival crime boss Meir Abergil - but found no other weapons.
The police international crimes unit is currently investigating the group.
On December 24, an anti-tank rocket was fired at Abutbul's home. The rocket fell short of the target and landed in a nearby street. No injuries were reported in that incident.