Cocaine, cash and weapons have been seized after a driver fell asleep while parked behind the wheel in Sydney's inner east.

The 37-year-old man was arrested about 8pm on Saturday after police responded to reports of a driver asleep in an SUV while stopped in the middle of Wentworth Ave in Surry Hills.

He was removed from the car before officers allegedly found cocaine, $1000 cash and three mobile phones during a search of the vehicle.

The man was taken to Surry Hills Police Station where he was charged with supplying a prohibited drug and granted bail.

The next day, around 2.30pm, officers executed a search warrant at a home in Danks St, Waterloo allegedly finding 1.5kg of cocaine, $43,860 cash, drug scales, Xanax, steroids, knuckle dusters and rifle ammunition.

The cocaine has an estimated street value of more than $375,000.

Police rearrested the 37-year-old and took him back to Surry Hills Police Station. He was charged with six additional offences including supplying a large commercial quality of a drug, possessing a prohibited weapon and knowingly dealing with the proceeds of crime.

He was refused bail to appear at Central Local Court today.

Originally published as Coke, $44,000 seized after driver falls asleep