The elastic properties of armchair and zigzag multiwalled carbon nanotubes were investigated under tensile, bending, and torsion loading conditions. A simplified finite element model of the multiwalled carbon nanotubes, without taking into account the van der Waals interactions between layers, was used to assess their tensile, bending, and torsional rigidities and, subsequently, Young’s and shear moduli. Relationships between the tensile rigidity and the squares of the diameters of the outer and inner layers in multiwalled carbon nanotubes, and between the bending and torsional rigidities with the fourth powers of the diameters of the outer and inner layers, were established. These relationships result in two consistent methods, one for assessment to the Young’s modulus of armchair and zigzag multiwalled carbon nanotubes, based on tensile and bending rigidities, and the other to evaluate shear modulus using tensile, bending, and torsional rigidities. This study provides a benchmark regarding the determination of the mechanical properties of nonchiral multiwalled carbon nanotubes by nanoscale continuum modeling approach.