I'd imagine it is a nice "starter" 1911.. shoot it, enjoy it.
You may find as you shoot it more, you'll want better ( easier to see) sights, maybe a smoother, lighter trigger, to shoot it more accurately.
Then a front strap, checkered..so it's easier to grip & control movement from recoil...
Next thing you know, you'll have spent (invested )more $ in improving your pistol than it cost...or would ever be able to sell it for to someone.
This is a common experience in those starting their 1911 addiction.
a suggestion I'd make is.. before modifying the pistol ( beyond a grip change ) if you decide you like shooting a 1911 ( who doesn't ? ! )
either sell your Service Special and buy a 1911 that has features you want.. ( or buy a 2nd 1911 as an addition to your collection)
a suggestion for a 1911 with most desirable features would be a Springfield Loaded Target, ( bargain if you find a nice used one) or a BUL Armory 1911.
Those are just a couple I own that while under $1K, have many features that would be quite expensive to add to your Service Special, and also made of Stainless steel, an additional bonus, IMO.