That boat is certainly capable of sailing south down the cali coast.....but........you should spend a lot of time on it, and understand what you need to upgrade or repair before you head out... It would be advisable to get as much experience on it as possible before going on any extended trip. I wouldn't buy it and take off the next day.... that's a disaster. It's advisable to make a few short, test runs locally to get dialed in.
A $5000 boat, no matter what size, is going to need a careful appraisal and probably a sizable investment to make it safe for any kind of coastal use... the trip down to so cal can be very easy, or it can be difficult.. the weather and sea conditions around Pt Conception can be overwhelming at times... not to mention fog, offshore drilling rigs and major ship traffic. You really need to know what you are doing.
As far as the boat goes, the motor condition, hull integrity(including through hulls and deck joint seams) and rigging are paramount considerations. You'll also want to analyze sail condition.... something the surveyor may not do.
In addition, you'll want to equip the boat with minimal electronics and navigation hardware.... GPS, VHF radio,, compass, depth, some kind of wind speed device, etc.... also check to make sure you have adequate safety equipment... pfd's, harness, MOB device, flares, flotation device, medical kit, jacklines, etc....
Finally, the trip you propose does not offer many safe harbors between SF and LA. There will be at least one overnight run. There are good cruising guides that will help you plan the trip for a safe passage... but I would pick a crew that had some experience. Good Luck.