Lil help figuring out my latest pick-up....1974 FJ40 Landcruiser

Hey folks, 

 So trying to figure out what I have.  Recently purchased a trailer that came with a 1974 Toyota Landcruiser, lol.  Well sorta.   I really only needed the trailer, but the Yota was just too nice to not break open the piggy bank, so I did what any self respecting car nut would do and bought both.  I had sold some old cars in recent years that was sitting idle in the bank anyhow.  So there... just making good financial sense I tell myself.

  My dilemma is, while i feel comfortable with my purchase, I don't know definitively how to classify it or what is/is not significant from a value/historical standpoint.  Restored??... uh maybe years ago.  Still very beautiful..  Barnfind??... not in the truest sense but it's a liberally applied buzzword nowadays anyway and it has been non-opped for last 4 yrs.  Not sure that qualifies.  Original?? 'Ish' maybe.... has a Chevrolet 350 conversion that's been part of its DNA for at least 20 years.... actually has a CA Bar Sticker in the door blessing the conversion.  Done very well, nothing about it looks anything but a factory job. 

  What history I know.  PO bought it about 10 years ago from a middle man.  Understood that middle-man bought it from a Northern California gentlemen in essentially the same shape as today.  Still has Original Blue CA Plates.  Has been extremely cared for mechanically  

  So bottom line,  a very nice Land Cruiser.   Nice enough that I'm uncomfortable with not understanding the ins and outs, gearing, etc  as I know that all goes into the equation.  Especially relating to what is,  or is not  original and how modified it is.   I've done some looking but there is so many differences in these from year to year, and mod to mod that my eyes just cloud over and I realize I've spent 6 hours absorbing a lot of random feeling information.   Aside from the engine and presumed tranny swap, I really have no idea or what matters most.

  My wife has taken a shine which is much better than the alternative.  But being honest...don't have the room to keep it covered which is starting to going to annoy me already.  I'm a purist, so I won't give a classic vehicle anything less than the respect it deserves.  I do have a garage I can park it in available, just not as conveniently as I'd like.

  So looking for a local authority to give me an accurate front to back assessment, help classify it properly, and assess a true market value. I'm pretty savvy as I've been a car guy my whole life so I have an idea, but would rather have an educated opinion.  Happy to pay a reasonable price for someone's service.   Located east of downtown San Diego, CA.

Any suggestions would be appreciated.

Sounds similar to what I bought a while ago.  A 72 bronco with a ca bar swapped motor (a 351). I like the idea of original but that’s too late. So I’m just bringing what I have back to life.  I figure I’m restoring someone’s hot rod.  

I’d make what you have nice, and add the modernities that you’d want (Bluetooth, cup holders, seat heaters etc)

• From a pure value standpoint, I realize that original is where the highest value is. 
• Based on what I've read from a mechanical standpoint... both original/Chevrolet small blocks are both capable.   I didn't do the conversion, so I wouldn't be offended by anyone's input and welcome any opinions.  Being a Chevy small block fan (and availability of parts literally anywhere), I'm not as put off as some
• Having been CA 'Bar'-ed, I see it as a part of the vehicle's unique history.  Someone went thru significant effort to not just change the motor, but get blessed with the CA smog program relatively early in its life and made it look/feel factory in its execution, at least to an uneducated eye.   Outside of leaving an extra bracket (future AC?), was very neatly executed.

  Which brings up another question I have.   For the immediate, this is an amazing looking and driving LC.  Literally everything looks, feels and works like it was part of the original vehicle (short of obvious wheels/tires/radio).  It's ready to be enjoyed as is and there's no harm in that. 

  But is it worth it to consider returning it to a stock configuration some day,  or is it pretty much once it's done...no going back?  I realize would need the original drivetrain donor, etc, but is there a case that can be made for it investment if extremely nice (as I perceive) and original aside from the Chevrolet drivetrain?   If I keep it, should I keep an eye out for a mechanical donor.  And if so, what exactly would be needed? 

  Again, looking for anyone in San Diego area to give me there educated two sense and opinion as it would be helpful to understand the ins and outs.  Short of taking a jillion pictures and detailing everything, hard for anyone to give great insight.  I realize so many look great in pictures but are so much lesser in person.  My own car sense tells me this isn't the case here.   For consideration, It's currently registered non-op (by PO) which has it's benefits, but paying the great state of CA sales tax and their random made-up fees to title in my name is another investment that is money that would never recouped, so that's part of my decision as well.  My wife would love it in a soft-top configuration which is another cost but then I'd have the hard-top to keep safely stored/protected and that's s garage real estate and a concern with kids.  

Thank you to all for your comments.     

Land Cruisers seem to be pretty popular these days.  If it's in decent shape and the small block Chevy conversion is good I'd leave it as is, but I wouldn't make any further modifications that would prevent it from being returned to stock easily.  Haggerty has a recent article on them:  https://www.hagerty.com/articles-videos/articles/2019/05/03/now-is-the-time-to-buy-toyota-fj40

I don't know that I'd bother with a return to stock. Land cruisers go for crazy money now, and that chevy swap is very common. I worry that you'd be competing with Jonathan Ward's TLC if you tried to return it to stock just to get more money from a sale. 

I’ve owned a bunch of these,  original I6, SBC swapped,  and even one SBF swapped.  For a driver,  in my experience with them,  the swap never hurt the value.  You had guys that wanted it all Toyota and guys that didn’t care or preferred the v8,  but they all sold for similar money.  After owning various ones my current personal one has a mild SBC with aluminum heads and I prefer it over the I6.  If I were going for max value and a frame off restoration it would be different,  but that’s not my goal with this rig.  Good luck with it and post some pictures.

As stated, V8 conversion doesn't hurt, and maybe even help value.

74 was front drums, right? 76 discs, as I remember. Stock gearing is a little short with the V8 swap (taller tires???). Most conversions I've seen use the stock Toyota transmission, and it's up to the job. Get it clean, and enjoy. You won't loose money. If you need to, drive it to Colorado and bank. Great trucks, and legend had it those I6s were reverse engineered stovebolt GM engines. Sounds like a great score, and I'd say, like box Broncos, bound to increase in value modified, or not.

Will try to add a few pics in minute.  Just took some in driveway.

• Still needs a solid detail, so Ignore the cat prints (something new in the driveway) and the dirty roof, haze that needs to be wiped off.
• Need to detail the chrome bits properly
• Dual gas tanks, both work.  As does fuel gauge.
• Still has all the factory (per my limited knowledge) factory spot welds visible.  
• No sign of bondo. 
• Looks to have been repainted once, I'm guessing 20 plus years ago.  Very honest all around.
• There is literally no rust anywhere, nothing hiding under corners or metal trim.   
• Came with a front tow bar that mounts where jack in front is.  
• Didn't take any of interior.  It's pretty much mint with newer carpet and heavy rubber floor mats everywhere.  Theres a bunch of stuff that came with it (factory locking console, a second new locking padded console, winch controller, tow bar, miscellaneous ) still need to find space for. .
• Has jump seats and super comfy (appear factory) seats.  All appears excellent to mint.  
• All electrical, etc is very in order.  Same for windshield wipers, fans, controls, etc.  Horn works.
• Could use a new drivers side door gasket as slightly worn (supposedly in the extras with the car).  Haven't looked close yet.  Time....sigh.
• Also came with maintenance manual and absolutely stunning 1974 owners manual that has been in a plastic bag.  Think I'm the first to look at it. 
• Amazingly, doesn't leak a single drop of anything.  Even where it had sat mostly still for a few years.  Did add some fluid to clutch master 
• Has 8000# Ramsey winch with controller and (I believe) 3/8" steel cable.   Supposedly works well.  Haven't tested it yet  

...And small details. 

• All glass and seals are excellent
• Original Keys present
• Believe Original Blue CA plates (Blue from the 70's in CA)
• Factory locks all work, even gas cap cover
• Windows roll up down well, wing windows work well
• Tires are excellent, rear spare has furries, never down apparently
• Wheels were slightly narrowed to clear Heim joints under load
• All doors work excellent, panel fitment/alignment is excellent
• Same for rear locking/spare swing out and rear glass.  Very in order... front to back
• Start first bump of key, no blue/black smoke, nada
• Runs cool
• All fluids topped perfectly and very clean (didn't check diffs tho yet, but no reason to think otherwise)
• Runs/Shifts/Drives/Tracks very tight and straight
• Brakes are strong/Stops straight,  Front drums, but stop so well... never know it.
• Manufactured Aug 74 I think
• Odometer read 5k and change.  Looks believable.  Trailer I purchased with it was used to tow it when they went 'off roading'.  Not a tree or rock mark on it. 
• Clear CA title

In reply to wheelsmithy :

Yes, drums.  Stops very strong and straight.  

Tires are bigger, see pics.

i believe is Chevrolet Trans.  Reverse is down right   

Looks great !

When you have time can you take a picture of the engine bay and how the V8 exhaust fits in the frame ?  Or if  they had to cut the frame or relocate the steering box etc.

Thanks

In reply to californiamilleghia :

Can do...will do.  Least I could do. 

Nice!  That’s a great looking rig!