This is a great smaller sofa for the price. The color is true to the description. But the fabric seems more like a soft canvas than velvet. 

It is somewhat firm, but not uncomfortably so. It has tons of storage. The pullout bed is firm, but again, not uncomfortably so. I am 56 and barely fit from arm rest to arm rest. Taller people might be able to lay diagonally. But this isnt made for tall people to sleep on.

Overall, definitely a good purchase for a smaller space.