Just seen an ancient L3 (misdescribed as an M3L...well, this is fleaBay) from a seller with 0 feedback, pick up only from deepest Somerset, go for £601. I bought a similar L3 for £250 on eBay 9 years ago.
I'd quite like an old one to do up, but they are very rare. L3s don't often appear for sale and they are not priced sensibly low compared to the current model, which is LWB and has better components, especially brakes. With an old one, there's also the risk of the rear triangle being rusted out, and it will usually need a hinge job.