Depending on the engine (ie running or not) and the state of the rigging, I think it looks like a pretty good deal. I tend to be optimistic in these types of purchases though
I fell in love with my seafarer (1968 rhodes meridian) that I purchased last year.
You mention seaworthiness, I'd say that boat is suited for coastal cruising and inshore sailing only. Seems a bit light for anything offshore, although people have crossed oceans in less! If it has enough rigging to get on the water and start sailing with a minimum of additional purchases, I'd encourage you to go for it!