I don't own this car but I checked it out last week. Perhaps someone in LA who wants a project or a parts car might be interested in it.

Engine: Starts quickly despite having a dead battery and has a knock that is loud and increases with speed. (I am not that proficient with engine noises just yet ) Engine idle is low so keeping it running requires pressure on the accelerator. The engine was clean and not leaking fluids having sat there for some time. I was not able to drive it because of the valve noise? so I can't say if the transmission was slipping.
Body: Doesn't have any rust around the jack holes. The body is in excellent shape other than a tiny ding on the fuel filler door. Paint is faded on the roof. Tiny bit of rust on the right side near the moulding strip is on the right rear door. Needs a left tail light.
Wheels: Wheels and tires are in good shape as is the suspension.
Interior: Blue but the seats are in okay shape but need pad replacement. Climate control panel is removed. I think he sold it to someone.

The guy is having a hard time with cash but is willing to give it to an MB enthusiast who can take care of it for $500. In it's condition, it would be an excellent parts car or a decent project if the engine knock can be resolved but who's to say.

http://losangeles.craigslist.org/car/86708618.html

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1974 240D 3.0L 4(M) - 250K -OM617.910 + 300D FW + Rajay turbo power!
1977 6.9 3(A) - 84k