Yeah, kind of.
They do take standard AK parts, but they're known to have a lot of problems and simply are not made to the same standards as better AKs.
You need to look out for canted sight front sight towers, canted gas blocks, canted rear sight bases, incorrectly cut magazine wells, poor riveting, bad headspacing (very rare), and need to check and make sure the gun isn't bent.
The finish on WASRs is a joke, but it dosen't matter if you'd like to refinish it anyway. WASRs are typically on the low end of the AK accuracy spectrum, but some people just don't care since it's an AK and not tremendously accurate anyway.
If you're going into it with the intention of making a cheap project out of it, I say go for it.