The Frederick P. Elkin Residence is recognized for both its Queen Anne Revival-style architecture and its status as the former home of Frederick P. Elkin.

The Frederick P. Elkin Residence is a particularly elaborate example of a Queen Anne Revival-style residence. This is best seen in how the front facade's centre is pierced by a large, semi-octagonal tower topped by a finial. The mansard roof is another indicator of Queen Anne Revival influence, as are the various decorative elements, including dentils and spotted roof trim. One last notable feature is the entrance, which features an unusually detailed door with dentils and a stained glass window.

From sometime before 1914 until 1921, the house was occupied by Fred P. Elkin. F. P. Elkin was the son of RC Elkin, who was the founder of the prominent ship broker firm RC Elkin Ltd., which owned and operated several sailing vessels that regularly travelled on trade routes from the Maritimes to the West Indies. In 1907, Fred joined the company and eventually became its president. RC Elkin Ltd. would later be passed on to Fred's son and grandson before disbanding in 1979.

Interestingly, Elkin's house after leaving this building, located at 144 Duke Street Street, is also a heritage building under the name Frederick P. Elkin Residence.

An attractive feature of the property are the cornices that exist above each storey and a third for the base of the pinnacle roof. These cornices consist of dentils and wide decorative frieze bands.