Late 70's or early 80's Japanese friction shifter 10 speed road bicycle. Original front wheel was replaced with slightly newer and modern aluminum Araya wheel. Both wheels have been trued and spin straight, no hobs or wobbles. The size is 49cm, measured from the center of the bottom bracket to the top of the seat tube.
The front and rear derailleurs have been tuned and adjusted, all gears shift well (friction shifters). Both brakes work well. The front fork has been replaced because the original one was bent. The headset has been overhauled and re-greased. Same for the bottom bracket bearings.
Rides well. There is noticeable rust throughout the frame and crankset. It’s a fully functioning bike that would serve as a good beater to commute or get around town and lockup without worrying about thieves eyeing it.
Update:
Recently changed the rear tire to a tan wall to closer match the front. Changed the rear 5-speed freewheel to a 6-speed with a larger low gear for easier hill climbing. It effectively changed the bike from a 10-speed to a 12-speed. The handlebars have been angled down some for more comfortable riding position.