In stock I believe it remains docked and can't be sunk, although a torp will send it flying to the moon. In mods, TMO RSRD for sure, they're a few places it's scripted in traffic and can be sunk. I found one in the Bungo heading south at 10kts, couldn't hit it with a torp so chased it and sank it with my guns...It basically stays submerged, but enough sticks out..
Mods also add a larger JP submarine that can be found in several places along with a few German ones. You should get flash messages a few times for German ones, the JP ones I've found in several places..but still easy to destroy, although they will try to shell you.
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