A cargo area storage system including: a foldable cover assembly including: first and second substantially rectangular panels in a parallel relationship and being pivotally connected such that the panels can fold in relation to one another to form the cover assembly into an erect configuration or to have a common plane configuration; a storage container affixed to the second panel, the storage container having one or more storage compartments, the storage container being a foldable, top open container; and where, when the first and second panels are in the erect configuration, the storage container can be made into an unfolded configuration to establish the one or more storage compartments to store one or more items, and where, when the first and second panels are in the common plane configuration, the storage container can be made into a folded configuration and concealed from the cargo area.