That is a standard English thread road BB 1.37 X 24tpi, 68mm shell width. Standard crank tool will remove it. low end but servicable crank. You could also just replace the bearings and regrease the existing BB. I could probably dig around in the basement and find the spindle and measure the spindle length.
I bought a $40 barely used Raleigh at a yard sale and upgraded everything on my daughters.
Last edited by dedhed; 03-24-13 at 07:26 PM.