I've got a buddy who owns a condo in a rennovated warehouse in New Orleans. The first floor was converted to a parking garage, with the condos up on the top two floors. They have assigned spots, but no fence or such. It works well as the people who live there are not the type to steal or damage stuff.
I'd love to own a pad that I could drive up to (even if it's just a weekend pad in the city for my buddies and I to escape the wives to). Just don't tell my lady about it