Hey Jason
I know the bike you are talking about, looks pretty decent. Some aesthetic items may or may not be to your tastes (no fenders, dust covers/fork gaitors, exposed battery?). It looks to be modified well, for $1500 it better move like a top. The Los Angeles market has some extremely bloated prices for cb's but many chances do come along. I run a 500 and a 550 and love em both (both were purchased very cheap over the course of 1 year hunting in Los Angeles). However, neither was of the visual character of the 550 you speak of. Though that is why I bought them, so I could have my own spin on them. If it runs great, it already looks good, and you got the cash, you won't regret it. Plus, in LA and on ebay you can get anything you need cheap. As an added bonus, if it has a title it is already light years ahead of many bikes sold in our area.
Best of Luck
Joe