A Micro Seiki MA-505 will work. Used they run about $500 or so. As Raul said whatever you get will need a cartridge that matches up with the arm. I used a Dynavector 20XL on my MA-505.
If you're talking about a low output MC, you'll need a step-up to boost the signal before going into your phono stage. What cartridge are you planning to use?
As others have pointed out, the cartridge/tonearm match is more important than the tonearm itself. Since the cartridge shapes the sound more, you should really settle on that first.
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