"Desvelado" is a love song about a woman the singer has never met. He fell for a voice: "Con ella me enamoré, aunque nunca la conocí" (I fell in love with her, even though I never met her). He even says he tunes in to the radio every day, "seguro que la vuelvo a oír" (sure that I'll hear her again), which makes it sound like he has a crush on someone he only hears over the airwaves.
The title word desvelado means sleepless, kept awake all night, and that is the whole mood of the chorus: "Voy desvelado por estas calles esperándote encontrar" (I walk sleepless through these streets hoping to find you). It is sweet and a little over the top, reaching for the moon and searching the sky for his star. Listen for the spoken bits at the end too: "Ahí te va, chiquita" is a playful "here you go, little one", and "apá" is a casual Mexican word for dad, used here as a friendly shout between guys.