The Spanish-style, two bedroom-house with two bathrooms was built in the 1920s. The Duvalls bought the house for just under $1 million and plan to renovate it, the Los Angeles Times reported Saturday.
Duvall appears opposite Will Ferrell in the comedy "Kicking and Screaming," which is scheduled to open in May.
He is currently shooting "Lucky You" opposite Eric Banav and Drew Barrymore.
Dennis Rodman pledges to end trips to North Korea
Jessica Simpson shares three-way kiss with friends in photo