CCTV of a mystery car has been released as police continue to investigate the alleged mistaken identity kidnapping and murder of Sydney grandfather Chris Baghsarian.

Police were told the 85-year-old had been kidnapped from his North Ryde home just after 5am on Friday, February 13.

Police are seeking to identify a blue Mitsubishi Lancer as they investigate the alleged murder of Chris Baghsarian. NSW Police

Investigators believe Baghsarian was abducted in a case of mistaken identity.

His body was found at about 8am on Tuesday, February 24, near a golf club in Pitt Town.

Six people were previously charged in connection to the case, and remain before the courts.

Chris Baghsarian was allegedly kidnapped and murdered in a case of mistaken identity. NSW Police

Police this morning said that yesterday, at about 5.20am, detectives carried out a search warrant at a property on Lansdowne Road, Canley Vale.

Officers allegedly seized a rifle, $66,300 in cash, 11 grams of cocaine, five ecstasy tablets, a gram of cannabis, steroids, electronic devices, and a black mask.

A 23-year-old man was arrested and charged with dealing with the proceeds of crime and drug offences.

He was bailed and will appear in court on August 5.

Detectives will allege in court the Lansdowne Road property was where a Toyota Corolla was stored before it was used to dump Baghsarian’s body, and later abandoned and partially destroyed on Good Street in Westmead.

Police have also released CCTV in an attempt to identify a car of interest.

It’s described as a blue Mitsubishi Lancer sedan seen driving on the M5 in Moorebank on February 2, and Vimiera Road in Marsfield on February 12.

Anybody with information is urged to contact Crime Stoppers online or on 1800 333 000.