Hard to tell from the photos, but it looks like it has bolts on the head for the spindle bearings which would make it the older 101.07301, so 1940s or 50s would be right. It looks like it has been used, not just sitting around which is a good sign, maybe just somebody moving on to a different lathe. I don't see any obvious broken or missing parts, and it has the change gears. Assume those are MT1 drill bits for the tail stock which is nice. Hopefully he can turn up some more tooling that goes with it, but this is a much better choice than that 109 was.
The cabinet it is sitting on has some potential too. A bit rusty but hopefully just surface rust and can be cleaned up.