Probably why it hasn't been developed yet. I'm sure I would need to provide more details such as the grade of the slope. It probably falls away at 45 degrees. $125k for a cliff sounds expensive too.
It would require shoring and backfill to add more flat land, no?
I'm not serious about such a project, but would like a sense of what's involved so I can either write it off as not worth it everytime I see such a plot, or know what the tradeoffs are. I do really like the view and surrounding neighborhood (and no HOA). The houses across the valley are where the doctors live, and it is an HOA.
Here's the Google street view of the location:
https://goo.gl/maps/qK62gXr1Yx42
"Property has recently been partitioned into two building lots of 16,000 SF and 21,000 SF. $115k and $125k respectively."
Here's the Zillow photos:
The plot I'd really want nearby is sold already:
https://goo.gl/maps/rF9jPLutt9t