For $60, you can't go wrong! especially if it's got the stereo wiring. I suggest you snatch it up before I do.
I own the earlier LB50, which I bought from our resident Carmine here.
It's virtually the same instrument, except the body design of the LB60 was made pointier to capitalize on the hair band craze. You can read about them here, as well as the earlier LB50, which will give you the full specs:http://www.carvinmuseum.com/decade/86-basses.html
With the stock PUPs, I'd describe the sound as similar to a Rickenbacker, thoguh with his mods there's no telling what it sounds like now. The active electronics and PUPs he installed may actually be an improvement. For one, the bass has stereo outs. Very uncommon except on a stock Rick, but otherwise you won't find a lefty with stereo outs anytime soon. It also has a set neck, phase switching, ebony fretboard, etc. Many upscale appointments. I actually use mine as my main midi bass, which is strung up with piccolo strings. I run the midi synth sounds out to my GR33 guitar synth processor/out to PA, then I one of the stereo out jacks to my Digitech Whammy detuned to bass register and the second stereo out jack runs out to my guitar amp. That's 3 outs resulting in a GIGANTIC wall of sound.