You aren't likely to find a legal multifamily in that price range within city limits right now.As suggested by prior poster,   going north or south by 30 minutes (off peak traffic) from seattle limits might increase your prospects.    

An example of this would be when a police officer initiates a vehicle pursuit for a minor traffic offense.

Even with HUD, I think there is some difference on what kind of offer will get it done depending on the property, location, listing agent, and traffic the house attracts from buyers.

The appeal is the proximity to the city without having to endure 285 traffic and its proximity to the airport.

Traffic isle is 20 ft wide ( or as close as possible) .  

Great to listen to when you're driving in ATL traffic..;-) Mark

Of your options... find a bigger fool willing to take on a project on a two blocks on a high traffic street two blocks from an interstate on ramp.A retail buyer... or anyone actually familiar with the area... is going to want a big discount based on the location.

Also, there are cases where the expenses will be higher, particularly in an RV park that has a large amenity package and daily RV traffic.  

Is there a percentage off one should consider when purchasing a property that is in a high traffic area?

They have two boys who are (clearly) heading to college this year and in 2 years.But as for the landlords - they have a criminal traffic violation, multiple evictions (as landlord), a felony conviction, and multiple foreclosures.