With the First Generation Mustang proving such an enormous sales success, it is no surprise that there remains a ready supply of promising project cars waiting for the right person to perform their magic on the mechanicals and metal. Even though production figures had tapered markedly by 1970, that still potentially gives enthusiasts a pool of 190,727 vehicles from which to choose. Our feature Mustang is one of those cars, and while it is ragged around the edges, it still holds the potential of being transformed into the Mustang of your dreams. Located in Pleasanton, California, the owner has listed it for sale here on eBay. They have set a BIN of $15,995, and seventy-two people are watching the listing.

This Mustang’s history is vague, although the seller states that it recently emerged after a previous owner parked the Raven Black beauty in 1978. Why they did that is unclear, but it looks like it was a restoration project that stalled relatively early. Some aspects of the car look pretty tidy, while there are plenty of unfinished tasks for the buyer to consider. Externally, there is rust and physical damage to the driver’s side rear quarter panel, and replacement would seem the most viable option. The remaining panels look pretty good, suggesting that they will need little beyond basic surface preparation before the buyer applies a fresh coat of paint. Notable inclusions are the factory shaker hood and assembly. The owner believes that these didn’t start life attached to this Mustang, but they are a welcome sight. It seems like someone has replaced the rear wheelhouses, although the buyer will need to add the finishing touches. They have also cut out the floors on both sides, and the supplied replacement steel is awaiting attachment. The torque box region requires further attention, but the frame rails and trunk pan look structurally sound. With most of the exterior trim intact and the tinted glass in good order, whipping this Mustang’s body into shape seems relatively straightforward.

The original owner ordered this Mustang trimmed in Ginger vinyl, and the interior is a surprise packet. It will require a headliner, carpet, dash pad, and front seat upholstery. However, the back seat and remaining upholstered surfaces are intact and look pretty respectable. A few small hard-trim items are missing, but before I launched into a shopping spree for new parts, I’d clean everything thoroughly. The impression is that this aspect of the build could prove the most affordable. That is never bad, as it could leave the buyer with additional funds to splash on more pressing needs like this classic’s drivetrain.

The Marti Report included in the sale indicates this Mustang rolled off the line in March of 1970 equipped with an F-Code 302ci V8 and a three-speed manual transmission. With 220hp on tap, this combination would have blessed the car with the ability to cover the ¼ mile in 16 seconds flat. Those days are well behind it because this classic waved goodbye to its engine and transmission many moons ago. The radiator is intact, but as Old Mother Hubbard found, the cupboard is bare. The previous owner stripped and repainted the engine bay, but they may have missed some rust on either side at the top edge of the inner fenders. With that repaired, all that is needed is for the buyer to slot the drivetrain of their choice into the empty space. It will undoubtedly include a V8, but that’s where the options broaden. Sourcing an era-correct motor would be easy, although the lure of a restomod build with something modern and fuel-injected might be too tempting to resist. The buyer will be limited only by their imagination, and with the right choice, this classic could produce the sort of power and performance of which buyers in 1970 could only dream.

We see a steady flow of Mustang project cars come across our desks at Barn Finds, with their condition ranging from pretty solid to the borderline lost cause. This 1970 model requires its share of love, but it is far from being beyond help. Some people hesitate to modify cars of this type, especially vehicles that are numbers-matching survivors. There are no such qualms with this classic, allowing its next owner to produce the Mustang of their dreams. Whether their goal is a faithful refurbishment or a custom build, the world will be their oyster. I look at promising cars like this and harbor a wish that one of our readers will take matters in hand and return it to our roads. I try to envisage the finished product, but there are always too many factors to consider to paint a clear picture. If one of you chooses to take it on, I’m sure we’d all like to see it once you’ve weaved your magic. What do you say?