<SEC-DOCUMENT>0001214659-15-006629.txt : 20150911
<SEC-HEADER>0001214659-15-006629.hdr.sgml : 20150911
<ACCEPTANCE-DATETIME>20150911093449
ACCESSION NUMBER:		0001214659-15-006629
CONFORMED SUBMISSION TYPE:	4/A
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20150115
FILED AS OF DATE:		20150911
DATE AS OF CHANGE:		20150911

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ONE LIBERTY PROPERTIES INC
		CENTRAL INDEX KEY:			0000712770
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				133147497
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		60 CUTTER MILL RD
		STREET 2:		SUITE 303
		CITY:			GREAT NECK
		STATE:			NY
		ZIP:			11021-3190
		BUSINESS PHONE:		5164663100

	MAIL ADDRESS:	
		STREET 1:		60 CUTTER MILL ROAD
		STREET 2:		SUITE 303
		CITY:			GREAT NECK
		STATE:			NY
		ZIP:			11021-3190

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ONE LIBERTY FIRESTONE PROPERTIES INC
		DATE OF NAME CHANGE:	19851112

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			GOULD JEFFREY
		CENTRAL INDEX KEY:			0001187903

	FILING VALUES:
		FORM TYPE:		4/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-09279
		FILM NUMBER:		151102412
</SEC-HEADER>
<DOCUMENT>
<TYPE>4/A
<SEQUENCE>1
<FILENAME>marketforms-32924.xml
<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4/A</documentType>

    <periodOfReport>2015-01-15</periodOfReport>

    <dateOfOriginalSubmission>2015-01-20</dateOfOriginalSubmission>

    <issuer>
        <issuerCik>0000712770</issuerCik>
        <issuerName>ONE LIBERTY PROPERTIES INC</issuerName>
        <issuerTradingSymbol>OLP</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001187903</rptOwnerCik>
            <rptOwnerName>GOULD JEFFREY</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>60 CUTTER MILL ROAD, SUITE 303</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>GREAT NECK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>11021</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>true</isDirector>
            <isOfficer>true</isOfficer>
            <isTenPercentOwner>true</isTenPercentOwner>
            <isOther>false</isOther>
            <officerTitle>SENIOR VICE PRESIDENT</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2015-01-15</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>false</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>8600</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>232909</value>
                    <footnoteId id="F2"/>
                    <footnoteId id="F5"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>17834.27</value>
                    <footnoteId id="F3"/>
                    <footnoteId id="F5"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>As custodian for children</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common  Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1704763.703</value>
                    <footnoteId id="F4"/>
                    <footnoteId id="F5"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Gould Investors L.P.</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">These shares were issued as restricted stock effective January 15, 2015 under the issuer's 2012 Incentive Plan.  The shares vest January 14, 2020.  The award is exempt from Section 16(b) under Rule 16b-3(d)(1).</footnote>
        <footnote id="F2">Includes shares in reporting person's Keogh account.  Includes shares obtained through issuer's dividend reinvestment plan.</footnote>
        <footnote id="F3">Shares are held by reporting person as custodian for his children.  Reporting person disclaims beneficial ownership in these shares.  Includes shares obatained through issuer's dividend re-investment plan.</footnote>
        <footnote id="F4">Reporting person is senior vice president of managing general  partner of Gould Investors L.P.  Reporting person also holds limited partnership units in Gould Investors L.P.  These shares represent all shares of issuer owned by Gould Investors L.P.  Includes shares obtained through issuer's dividend reinvestment plan.</footnote>
        <footnote id="F5">The company's transfer agent incorrectly calculated the number of shares issued in connection with the October 2014 issuance of shares (the &quot;Drip Shares&quot;) pursuant to the company's dividend reinvestment plan. This amendment is filed to correct the Form 4 filed in January 2015 which, among other things, reported the issuance of the Drip Shares.</footnote>
    </footnotes>

    <remarks></remarks>

    <ownerSignature>
        <signatureName>Jeffrey A. Gould</signatureName>
        <signatureDate>2015-09-11</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
