There's no water view option at CBR. The only reservable upgrades are king bed or preferred - and you can only reserve/guarantee one of those. Keep in mind, even the preferred villages have rooms that are as far from Port Royale as possible.
Anyway, you can reserve (based on availability) a king bed and request a water view in one of the preferred buildings, or a preferred location with a water view. List your requests in order of importance, and remember - the fewer you have, the more likely Disney will succeed.