Is that a 6-cyl engine? All US spec 320i were 4-cyl. Also the dual exhaust isn't original to a US car. Maybe this is actually a European 323i with a 320i badge on to make it appear more US-spec? It does have the US spec speedometer and bumpers.
As to value, does it run? If so, it's value is probably the same as any other 30 year old car that runs. This isn't a particular desirable BMW model. I owned a 83 320i a long time ago, kept it 14 years. A great car, but not really worth much as it ages.
The paint looks nice -- I don't recall that as a factory color, but it doesn't look repainted.