You'll find the Sinking city 2 storage lock in the hospital long before you should able to open it, because you'll need to find four notes as you explore. However, the code should work whether you have the notes or not, so I can give you that now, as well as outline what you should be doing to find the code as you play the game. There's a good SMG upgrade to be had here, so it's worth opening however you do it.

The Sinking City 2 storage code is 1308.

Once you've used the acid on the rusty handle to reach it, you can just enter that and get inside. However, if you want know why, then it involves finding four notes in various locations that eventually give you all the numbers you need, as well as the order they should appear in:

Finding all the notes will let you complete an investigation by joining them all up, and give you the order of the code needed to open the combination lock. As I said above, you can just enter the code if you know it but, if you want the upgrade point you'll earn from completing the investigation, it's worth finding all the bits - as is completing investigations generally. However you open the lock, inside you'll find a bunch of items and the Doyle's Cold Blood attachment for the Submachine gun that lets continuous fire slow enemies. That's a useful attachment for crowd control, and makes the SMG especially powerful when teamed up with the Doyle's Hot Streak magazine that increases damage with sustained fire.

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