Looks like a nice bike as-is, maybe not high dollar but nice nonetheless.
Extended swingarm, 91-92 frame, reinforcement only where it needs it...probably a nice drag bike.
What kind of pipe does it have?

Seems like you could buy a good set of shocks, extended a-arms, and larger front tires to make a nice hybrid.
You'd probably be money ahead fixing this bike up and selling it, parting it out takes a long time and you're usually left with a lot of redundant parts few people want (stock a-arms and little parts).