The following command will run SVN update non-recursively:
svn update --depth=files
In general, you can learn all the options for a given command using:
svn help command
In the above, replace command with the actual command (e.g. "update").
The update command will not modify or overwrite any files with local modifications. If there is a file with local modifications, and you would like to discard these local modifications in favor of the updated version, you can run the command "svn revert" to revert the local modifications and to mark the file as clean.
EDIT: In my initial post, I used "svn update --non-recursive"; however, as has been pointed out, this option is currently listed as obsolete.