A rack-based information handling system (IHS) includes a rack containing at least one chassis having a plurality of bays open to laterally receive sleds that contain a plurality of information technology (IT) components that, when operational, enable the rack to function as an IHS. A storage sled including a stationary tray received in the chassis and a moveable trace received in the stationary tray. One or more hot swap bays that are horizontally arrayed in the storage sled in less than one (1) Server System Infrastructure (SSI) rack unit of height, wherein the moveable tray is extendable from the rack to a service position to expose all of its hot swap bays. Storage devices are insertable into a respective one of the hot swap bays of the storage sled. Each storage device may include a latching handle to lift and downward position the storage device in the corresponding hot swap bay.