I have a white 87 K-5 Blazer. It has the Silverado package, ie nice seats (cloth), carpet, back seat, power windows, locks, very fancy. Had a 350/automatic but it's been removed. Very little rust, especially for one of these Blazers, perfect tailgate etc.
But it had a front-end collision on the RH side. Hood is good, fender destroyed, frame appears OK but the front spring shackles tore, axle ok but offset. has nice mags on it (OEM) with 265/75/15 tires.
I also have a '87 GMC Jimmy with the 6,2 diesel. 220 000km or so. The engine is great, frame is perfect, but the body is rusty. My plan is to take the Blazer body off and just drop it on the Jimmy and sell it. But for the right price, you could have either one or both!