API for update an address
@Zeno when you have create option you don't have to look for replace 

please use create key word to create new or to update the record if record exist 

$result = civicrm_api3('Address', 'create', array(
  'sequential' =&gt; 1,
  'contact_id' =&gt; 202,
  'location_type_id' =&gt; "Work",
  'street_address' =&gt; "test",
  'street_number_suffix' =&gt; 506,
));


Please try the above - This will work