Yes, but they’re more niche than indoor sleepers. In cities, the most practical options tend to be outdoor daybeds with a hidden pull-out platform, modular sectional sofas that reconfigure into a flat sleeping surface, and sturdy bench seats with a trundle-style bed underneath. Some balcony and rooftop designs use a click-clack or pop-up mechanism, but I’d look for powder-coated aluminum frames, marine-grade hardware, quick-dry foam, and removable, weather-resistant covers.
The catch is cushion storage and clearance. A piece may convert in seconds, but if you have to haul cushions indoors every time it rains, it stops feeling convenient. Measure the fully extended footprint, check whether the mechanism needs a flat surface, and confirm the fabric can handle sun and damp. For small urban courtyards, a convertible bench with storage is often the smartest compromise; for larger rooftops, a modular sofa that becomes a guest bed is more comfortable.
So yes: these pieces exist, but buy for the climate and the space, not just the trick. Treat the conversion as a bonus and make sure the furniture is genuinely comfortable as seating first.