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I fetched this out of the shop at my local landfill for 24NZD when originally it was priced at 35NZD (it would've been 25 if it weren't for the cashier losing their patience as I was trying to find another dollar).
I've stripped it down so now its only the crankset, handlebars and wheels.
when I got it, the rear derailleur had collapsed due to the fact that the cable for it was fucked.
I'm gonna recable it, but other than the basic replacements (chain, handlebar grips, tyres and tubes) there's not much to upgrade other than the cassette and the crankset.
However, one significant "upgrade" I am considering is a paint job, I'm thinking something like candy red, going for Mazda's "soul red", it would be my first paint job ever on a bike, so if you have any recommendations I'd be grateful, otherwise, please do state if you think it could look better with any other colour.