I was gonna say this Tiesco, but also the old Kay Pocket bass. I had one for about a year. It was a gas to play, and it travelled planes well.
I have to admit, though, the sound was a little thumpy. So if you don't mind a little muddled thump, or you play a lot of rockabilly and early rock, you would love it.
Converting a guitar shouldn't be too hard. The original Danelectro bass was just the Danelectro guitar design with a longer neck and slightly different bridge. All the same pickups. I'd venture to say if you took a faux strat, changed out the nut and bridge, you would be mightily surprised. Only problem will be strings. Best option would be the D'Addario Jerry Jones six string set, and just throw away the high E and B.
If you do it, you have to post it and some sound clips.