Great deal if paying below market
Pros
Cost compared to area, location, antique vibe with fireplace
Cons
occasional mouse, street noise, dance studio noise below
Advice to the owners
Not much, they cant change the noise situation, and the price is good for what you get.
Good location, not so good building conditions
Pros
Quaint, old building. Great location
Cons
Creaking floors, poor/cheap appliances
Advice to the owners
Update building and appliances