Obsolete Storage Space Split Into 5 Self Storage Rooms | High ROI

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[I'm a small investor from Tel Aviv, Israel, investing mainly in Israel and Central-Eastern Europe]

Investment Info:
This is a very (very) small deal, but thought to share it since it demonstrates relatively high ROI and utilizing available resources.

It was one storage room in the ground flooe of an 8-apartment building that was converted into 5 individual storage rooms. Originally it was one 430SQF and now each of the 5 units is around 50SQF in average.

Purchase price
: 0NIS (New Israel Shekel)
Cash invested
: 23,000NIS
Renovation time
: 2 weeks
: 14,400NIS
: 2,450NIS
Net Cash Flow
: 11,950NIS
ROI: 52%

The whole building is owned by my family and each of the 8 apartments holds a portion (1/8). For 20 years we just held there my father's construction tools and equipment.

What made you interested in investing in this type of deal?

In one of the BP Podcast episodes, Brandon and the guest (sorry I can't remember the name and episode # - listened to most of the 339 episodes) explained how one should utilize all the facilities and areas to maximize NOI. This storage room wasn't in proper use ("money on the floor") .

Bringing up this deal here since it demonstrates (1) why one should think of utilizing all (or at least most) of the resources and opportunities in asset we already own to increase NOI (2) relatively high ROI. At this stage of my personal journey, I'm looking for cash flow more than building equity, and returns of more than 50% per year with almost 0 work invested in this deal is a good example.

How did you finance this deal?

Cash - 23,000NIS is around 5,700$ these days ;)

How did you add value to the deal?

Wouldn't be easy to find 1 tenant to rent the whole 430SQF room, so split it into 5 individual units. Easy and cheaper to rent. This is a residential area, small apartments, and there is always extra storage space in demand by surrounding residents.

What was the outcome?

We left one 50SQF unit for our own use. The other 4 units were rented within 1 week of publishing in the local Craigslist.
* Just as a side note, the rent price per SQF is identical to residential rental in that area, with nearly 0 repairs and maintenance :)

[ Plan of the space before ]

[ Plan of the space after ]

[The mess before ]

[ In the process ]