Anyone have experience renovating an apartment downtown?

Hi All, I came across this insanely cheap listing. Anyone else see this? It obv needs alot of work, thinking based on some very quick research around 200k reno? but even then... for over 1000k sq ft? I'm not very seriously considering going for it, but just curious, anyone have experience with a fixer upper in downtown JC?

Edit: I already live downtown, as a renter, looking to buy in the next couple years