240 rear axle swap

[Revolve]

Hello all, I'm new to the forum. I am located in Canada and have a 1980 240DL 4spd sedan (300,000km). which has developed what sounds like a serious problem in the differential. I haven't taken a look yet, but just listening is disturbing to say the least. (A loud metalic grinding, concrete mixer type noise, which diminishes considerably when the clutch is applied. Needless to say, the car is not being driven at the moment!)
I also have a 1992 240 5spd wagon (300,000km) which I am parting out. Is it feasible to switch the rear axle assembly from the wagon to the sedan?
Looking forward to any input.