Welcome Bob!
Nice find! It would certainly make a fine guitar amp, but you could probably sell it for enough as-is to buy a really nice old Fender or such. The transformer that's whacked is merely a step-up (impedance matching) input level job to allow low Z line inputs, so for guitar (or other Hi-Z apps) you could likely bypass it altogether. An exact replacement will be very pricey if you find one, but there are many others that would fill the bill, including other Altecs if "stock" isn't required.
One precaution; unless you know it was in use within the last year or two, the first time power-up should be done slowly and incrementally with a Variac to re-form the electrolytic caps that are well beyond their expected lifespan. Replacing them (the round, metal cans topside) would be my preference.
If you're gonna sell it, sell it as-is. If you're gonna use it, restore it.









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