By the serial number, it is a December 1982 frame so it is technically a 1983 model year bike. If the color is correct, it is probably a Sport model which is less desirable. Those bikes aren't hugely rare so it would likely be smarter to buy a more complete bike. If you didn't care about it being period correct, you could just use spare parts to build it up and have a neat old crusier bike to play around with.