Police said a number of “blunt items” including metal poles were allegedly used during the assault, while $50,000 worth of jewellery was forcibly removed from his arms, neck and ankles.
The victim managed to alert a neighbour who contacted police but the attackers fled the scene.
Detectives charged a 29-year-old Butler man today with aggravated home burglary, aggravated armed robbery and aggravated assault occasioning bodily harm.
He is due to appear in Perth Magistrates Court on September 5.
A vehicle has been seized and will undergo forensic testing.
Police are probing unconfirmed reports that a firearm was used during the assault.
They are also working to determine the number of suspects involved.
A neighbour alleged a group of six men armed with a shotgun and “worked him over” before they “stripped him of all his gold”.
The victim had only been in possession of the jewellery for six months.
“Very disappointing because the gold was mainly for his grandson, for his future,” he told 9News.
Anyone with CCTV or dash cam from the area between 3.30am and 4.40am on July 23 is urged to come forward.