It's a West Coast version of the Marlin 70/70HC, sold thru Big 5 stores. Precursor to the 795.
It's one of the "House Brand" Marlins, where they changed the name/model number to suit the recipient.
Read this...it is a pretty good listing of all the rifles Marlin made for other companies, where they changed the name of their own rifles to suit the Corporatations. It has more Marlins listed than any other cross-brand reference to date...and it's ONLY Marlins
And yeah, it'd be worth $125, but try to haggle 'em down a bit anyway