That's a decent price for a good bass - *if* it doesn't have any issues.
Its a #169 ie. gamba shaped bass and the pickup is an Underwood, not a Fishman.
I can't imagine that it sounds its best with that ugly, crippled bridge, and the sound post is WAY off...
As Eric said, its a Wilfer - not top of the line but they knew what they were doing back then.
As Troy said, take your teacher and go and play it. If its healthy, make him an offer. If it has issues, subtract the cost of the issues from the asking price (new bridge with adjusters, sound post adjustment, loose bass bar, maybe fingerboard work?) and make him an offer.
Good luck.