I've always called this a couch, but I suppose it is more accurately called a sofa. It is leather and fits 3 people comfortably. The padded armrest parts on the ends are really comfy and great for naps!
It is not even two years old!
Officially it is the Ikea Vreta Sofa Bed. It does not convert/pull out into a bed (as far as I know!), but it will help you have a great nap provided you are shorter than 6'. I'm 5'11" and I think it is great.
Overall it has been the best sofa/couch I've ever owned. The leather really is nice!