I went by and looked at the M3 after work. I understand someone else was by earlier in the day and took some photos for you, so maybe you have a report already.
Here are my observations:
The exterior looks good from 10 feet. It has obviously been repainted, in whole or part. The silver paint itself looks OK, but they did a bad job masking some areas. The rocker panels in paticular have a really noticeable area along the top edge. There is overspray under the hood and in the door sills. There is an area around the rear door weatherstripping where blue paint is visible. Also some blue on the black trim on the rear bumper. Not sure if the car was previously painted blue or what that is. There is a bad spot in the sunroof seal in one corner.
The interior is in OK shape, with a few exceptions. The e-brake hand grip is missing completely. Just the metal tube there. The A pillar on the passenger side has some holes in it, almost like cigarette burns, but smaller. No idea how that could happen. The center of the seat cushion on the passenger seat has obviously been replaced. The leather looks fine, but the grain does not match the rest of the car. It has some aftermarket aluminum pedals that are worn. Also has an aftermarket face on the gauage cluster in a light silver color. Has a JVC aftermarket stereo. There was obviously a subwoofer in the trunk that has been removed. The wires are still there, but the trunk panels are pulled loose.
The car has new Sumitomo tires on it.
I talked to Ace’s cousin who works there. He was unaware of the repainting, but said the prior owner may have done it. I didn’t drive the car. He said it runs well (for what that’s worth).
I drive right by this place on my way to work, so if you want me to check it out further, let me know.
The price semms pretty good for the mileage, and obviously takes into account some of the defects. If the car is mechanically sound, you can live with the paint, and want to fix up the interior, it might be OK. I’d probably look for a better car if it was me. When I was considering trading my E46 328 for an E36 M3, the sedans seemed to be unusually plentiful considering how few were made. Seems a lot were automatics though.