I don't restore this model because it is not worth learning all of the details on how to do a really good restoration if I am going to come across this model in good cosmetics only once every year or two. If you want it restored, my advice is to find someone that likes this model and has restored many of them so you will get a nicely working walkman, because with this model you definitely want a very experienced person that knows all of the small details that need to be done to get a perfectly working machine again.
Technical condition: Inserting a battery, has no power, no further testing done but this doesn't mean that previous owners did not try to open it and replace at least the belt and probably do more things inside considering how rare but popular this model is.