Well finally got in touch with the actual owner today. As most second or third hand stories go, some of the details were off.
First and most importantly, it's a CB350K not F. Second, he is the second owner. Other than that, from what he describes it is still a really nice bike. Great paint, no rust, original pipes.
I'm going to go look at it this week and see what there is to see.
Same problem again, no real idea with a 350K is worth. Not a whole lot of them in one piece on ebay though the few that there are seem to go for a bit over a grand. Lots and lots of parts on there for them though.