We’ve always been under the impression that BMW built 10 road-going M3 GTRs for customers. Even the official M website says so, listing an astronomical €250,000 price tag. However, the street-legal version turned out to be even rarer. Apparently, only three production-ready cars were made. The other seven were development prototypes, all of which were scrapped. The surviving cars belong to BMW’s official fleet, making the M3 GTR truly unobtainable.

Tom Plucinsky, Head of BMW Group Classic USA, gives us a tour of the elusive Strassenversion at the Petersen Automotive Museum. It’s a rare chance to climb into a cabin with seating for just two. The 2003 M3 CSL kept its rear bench, but the 2001 GTR went on an even stricter diet. Despite packing a larger engine, the ultimate E46 ended up lighter at 1,350 kg (2,976 lbs); about 35 kg (77 lbs) less than the CSL.

Another major difference lies between the two Recaro bucket seats. While the CSL was sold exclusively with the SMG II transmission, the GTR came with a six-speed manual. The V8’s 346 hp and 365 Nm (269 lb-ft) were sent to the rear axle via a two-disc motorsport clutch and a variable limited-slip differential.

We’re told the three street cars have different seats and slightly altered interiors. Eagle-eyed readers will notice the “M3 GTR” plaque on the side sills and a Euro-spec steering wheel. Otherwise, it’s largely a standard E46 M3 affair. Well, aside from trunk reinforcements that strengthen the rear. With just 500 miles (800 kilometers) on the clock, this example is a genuine time capsule, explaining its immaculate condition.

Developed in just 12 months, the M3 GTR stood out from the standard model with a carbon fiber rear wing, trunk lid spoiler, redesigned bumpers, hood vents, and an exposed carbon fiber roof. Its centerpiece was the actual race car engine, albeit in restricted form—the P60B40, a naturally aspirated 4.0-liter beating heart with a flat-plane crankshaft and dry sump lubrication.

We don’t get to see the GTR in motion, but it surely must be one of the rawest M3s ever built by BMW. The phrase “race car for the road” may be overused, but in this case, it fits perfectly.

Video: Petersen Automotive Museum / YouTube