This is nice flat build able land seems to attract lot of builders. Only full cash buyers can get this, IMO.
https://www.redfin.com/CA/Morgan-Hill/644-Hale-Ave-95037/home/23468540
There are homes > 1M within short distance. If this can hold 20+ homes,Zoning is A-20A (I do not know what it is), good deal for builders.