A black Mitsubishi L200 truck was taken from Standalane View in Peebles.
The Canyon Spectril and On-One bikes were taken from a house in Whitehaugh Park. A third break-in took place in the street, but nothing was taken.
Police said the properties seemed to have been targeted when the occupiers were away. The thefts occurred between 22:00 on Sunday and 05:45 on Monday.
PC Steven Irvine, of Police Scotland, said: "These were high value thefts, and we believe all three addresses have been targeted.
"We are eager to trace those responsible as soon as possible.  I would ask anyone who was in the Whitehaugh Park and Standalane View areas on the night of Sunday and saw anything suspicious, to get in touch with us as soon as possible.
"I would also remind the public to take a few simple precautions whilst away from their property, such as cancelling deliveries to the door."
The stolen truck had the registration number F12 CJW.
The Canyon Spectril mountain bike has a silver frame, gold chain, black suspension forks and black and gold pedals, while the black On-One mountain bike had green stickers and a child's seat.
A truck and two high value mountain bikes have been stolen during a series of break-ins in the Scottish Borders.