Resale Canal Front Property For Sale in Mahogany Bay Village! These canal front properties listed for $135,000 with financing available, allowing the buyer to secure a lot with $35,000 down. What makes this opportunity such a great investment is the price, almost every single lot in the community has been acquired at a retail value of $150,000. Mahogany Bay Village is not only one of the most sought after resorts in the Caribbean, but it has also become the best way to own luxurious canal front real estate on Ambergris Caye. The area is home to a Coastal Living Community, a Hilton Curio resort, and over 20 commercial businesses.